Labour admits cuts are needed

 
Kate McCann
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THE LABOUR party will today admit that government spending needs to be restricted in the coming years.

In a speech at the Institute for Chartered Accountants, shadow chief secretary to the Treasury Chris Leslie will promise to tackle government spending head on, warning: “A more limited pot of money will have to be spent on a smaller number of priorities. Lower priorities will get less.”

Leslie will also announce plans to conduct spending reviews on a multi-year basis, rather than each year, as is the case currently.