Tory peer Lord Wilson, who organised the letter signed by 35 leading retailers and business people calling on George Osborne to hold his nerve and go ahead with his scorched earth plan, says there was nothing political about his little wheeze. He’s right, it was just hard-wired. Why else could the bosses of companies ranging from M&S to Asda not see that the cuts and the coming VAT rise are going to choke off consumer demand, jettison jobs and increase, not decrease the deficit? Could it be that keeping the Tories in power is worth the price, a price that they won’t be paying?
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