Lord Forsyth has hit the headlines calling for spending cuts of £75 billion a year.  Sounds like a lot until you realise that government will still be over-spending by more than £100 billion a year since the budget deficit is £178 billion.  A government that over-spends by £2 billion a week is going to worsen the debt crisis.

Before Liam Byrne starts spinning about cruel Tory cuts he would do well to remember that Lord Mandelson said it was ‘vital’ to reduce the deficit by some £80 billion in a speech two weeks ago.  Mandelson is still outflanking the Tories…