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Additional current expenditure reductions of £30bn a year by 2014-15.
On the economy: do I favor tax cuts or increases, expenditure reductions or increases?
You can either do it through public expenditure reductions including welfare cuts, or you can do it through tax rises".
The second step would be to agree to a package of expenditure reductions to occur over the next 10 years.
Merrill said: "BT's equity is highly geared to improving performance which we expect to come from the sizeable reductions in headcount now being implemented, other cost and capital expenditure reductions, more disciplined bid pricing and better contract management.
Alan Townsend Chair of regeneration, University of Durham, 2000-05 The announcement that the spending review for this year's public expenditure reductions will be next Monday (Report, 18 May) has a number of connotations.
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Potential acquisition of Actelion could provide 12% earnings accretion through (i) potential pipeline driven revenue growth (ii) operating expenditure reduction.
Meanwhile, the country's lenders are adamant that the government should shore up expenditure reduction through cuts in the public payroll.
Advocates of extensive tax expenditure reduction argue — correctly — that all deficit reduction choices involve substantive costs and are politically difficult.
Second, we show that only a fiscal adjustment based on expenditure reduction would increase the Okun's coefficient.
Further, distinguishing between expenditure-driven and revenue-driven consolidation episodes, we find that the Okun's coefficient is sensitive only to expenditure reduction and not increases in revenue.
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