Britain needs a growth plan, not magical thinking | Observer editorial

The chancellor's tax giveaway will simply load even more painful spending cuts on to an inflation-devastated public sector Jam today, austerity after the next election - that was the thrust of the chancellor's heavily trailed autumn statement last week. As expected, Jeremy Hunt announced tax cuts that the country can ill afford. But despite his claims to be focused on the long term, he is paying for these cuts by raiding the money that should be reserved for public services after the next electi...