Sunday, May 16, 2010

Labour Hid ‘Scorched Earth’ Debts

THE SUNDAY TIMES: Labour ‘left poison pills’ for Cameron’s government

THE government last night accused Labour of pursuing a “scorched earth policy” before the general election, leaving behind billions of pounds of previously hidden spending commitments.

The newly discovered Whitehall “black holes” could force even more severe public spending cuts, or higher tax rises, ministers fear.

Vince Cable, the business secretary, said: “I fear that a lot of bad news about the public finances has been hidden and stored up for the new government. The skeletons are starting to fall out of the cupboard.”

The new cabinet has been discovering previously unknown contracts and uncosted spending commitments left by their spendthrift predecessors. >>> Marie Woolf and Jonathan Oliver | Sunday, May 16, 2010