Of course, growth will have a role to play in reducing the deficit. A vibrant economy will have a better chance of tackling record deficits and debt levels than a sinking one. But to indicate that extensive cuts will not be necessary is disingenuous in the extreme.
And that's not the only inconsistency in Brown's story. Will foreign investment - from China or wherever - really flood into the UK when the government's best solution to the debt problem is, er, foreign investment? "Come to our country and help fix our fiscal crisis," is hardly the best business pitch ever. And I doubt, somehow, that a 50p tax rate, or Brown's talk of a Tobin tax, will make it much more attractive. Bottom line is: the long, hard slog to recovery may require a few business-friendly policies.