Branson backs Tory plans to slash spending faster

SIR RICHARD Branson yesterday said the next government should start cutting the deficit immediately after the election, in comments that appeared to back Tory policy.

“The next government, whatever party that is, must set out a plan to reduce the bulk of the deficit over a parliament by cutting wasteful spending and must not put off those tough decisions to next year,” he said.

The Virgin Group boss added: “These factors threaten to undermine the confidence of international and UK business, UK consumers and the global financial markets.”

Chancellor Alistair Darling wants to wait until next year before cutting public spending to reduce the deficit, while the Tories say they would take action immediately.