The economy sucking is hurting Arthur, not the cuts.
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In percentage terms, Labour cut spending as a share of GDP by 8%, or 2.67% per year.
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The Coalition are cutting spending as a share of GDP by 13.8%, which, over 5 years, is 2.77% per year. Almost exactly the same as Labour.
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I don't remember screams of 'too far, too fast' with Blair, the state was not grown at the same speed as the economy then. It's all about the economy and a good part of this is actually outside of our control for now.
http://www.youtube.com/watch?v=J52BQFdPLJ4
EDIT: Oh yes and look at the numbers on the sides - however did we cope with the state only being 37.5% of the economy let alone the 34.7% it was in 2000 while we struggle with it being in the mid-40s and people are bitterly hurting due to brutal state cuts.
As I remember it we coped fairly well. Must just be me.