July 19, 2008
Rachel Sylvester and Alice Thomson
Taxpayers are at the limit of what they are willing
to pay to fund public services, the Chancellor has said
in an interview with The Times.
In his gloomiest assessment yet of the state of the
British economy, Alistair Darling gave warning that
the downturn was far more profound than he had thought
and could last for years rather than months.
He revealed that he told Cabinet ministers this week
that there would be no more money for schools, hospitals,
defence, transport or policing.
He confirmed that the Treasury was considering revising
its fiscal rules to allow more borrowing to deal with
the economic problems. He said that he did not believe
that voters, already struggling with higher food and
fuel bills, would be willing to pay more tax.
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