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The Budget

We made it absolutely clear—in fact, we put it in our manifesto—that we would reduce the deficit by half over four years. We also said that we would get growth going. Indeed, we had got growth going. The best way to reduce—[Hon. Members: ““Where in Wales?] If I am allowed to finish my point I will explain what the future would have held. The main way to reduce the deficit is growth. If we simply cut and cut, what happens? Businesses go bankrupt. They are not paying tax. Individuals lose their jobs. They are not paying tax but are drawing benefits. The deficit gets worse. The best way to reduce the deficit is to get the economy growing, as it was. We would have had a comprehensive spending review in which we would have revealed what was necessary.