The Treasury is playing a very smart game
Picking up David Laws’ axe at the Treasury was never going to be easy – but all credit to Danny Alexander, who seems to be managing it with some degree of gusto. After those extra savings he announced a few weeks ago, the Chief Sec has now written to ministers asking them to identify cuts of up to 40 percent in their budgets. I repeat: 40 percent. That’s higher than the highest roundabout figure I heard before the election (30 percent, from civil servants as it happens). And it tops the 33 percent that the IFS suggested might be necessary last week. Quite a few ministers will be quaking at