09:45 BREAKING NEWS : The new "Chancer" George Osborne has announced he is to hold his emergency budget on Tuesday 22 June. So the people that voted Tory in may and everyone else, be ready to be stung in June, as Lord Mandelson warned.
He also announced his creation of a Office of Budget Responsibility headed by Sir Alan Budd. This is what Sir Alan, said in March, "If you go too quickly, then there is a risk that the recovery will be snuffed out and we will go back into a recession -- I mean what the Americans say: "Remember 1937.".
But today the Chief Sectary and the Chancellor announced the £6billion of cuts in this year. While Sir Alan sat there next to them.
Its amazing how a new office can just make you forget all your previous positions.