In the Times, Danny Finkelstein argues against a temporary fiscal loosening:
Summoning up the will and retaining the minimum of political support is incredibly difficult. And fragile...Once we return to a policy of borrow and spend, how will we ever summon up the will to stop again?
I'm not sure about this. If I were a Tory wanting smaller government - and this, rather than concern about the national debt, is the reasonable argument for cutting public spending - I'd have three concerns.
1. Delaying cuts gives us the chance to make more intelligent ones. It gives us the opportunity to consult workers on where best to make efficiency savings; these are better identified from the bottom-up than from the top down. Quick cuts are bad cuts, which risks discrediting the aim of shrinking the state.
Read this short but incredible opinion about public spending: DelayingCuts