Hunt said he deferred most of the curbs on spending because cutting now would make the current recession worse. "There is nothing Conservative about spending money that you haven't got," he said. The front page of the Financial Times declared "Hunt paves way for years of pain". "All of that borrowing we've done over the last many years is coming home to roost," Johnson told BBC radio. "We're going to be stuck at 100 billion pounds a year being spent on debt interest in the medium term.

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