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  There is no plan B and wont be.
  
  The Plan A deficit reduction must not be watered down or then there really will be panic and a crisis of confidence. Better in fact to speed up public spending cuts if anything to enable tax cuts and encourage growth. As I have said many times, Osborne is doing the minimum needed by the markets anyway.
  
  It is a fantasy to think that you can carry on borrowing at the present rate without market consequences. We have seen what is happening in Europe and even Germany now is having problems with bond funding.
  
  Some of you like to pretend there are no consequences to profligate and irresponsible government spending and need to wake up to the nightmare Brown has left us with.

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