Filling a £50bn black hole

According to the Telegraph, George Osborne will be forced to admit to a £50 billion black hole in his Autumn Statement this afternoon.

They say

The scale of the deficit will put pressure on Mr Osborne to commit to even deeper savings in the next Parliament than have already been announced.

In recent weeks the Treasury has attempted to find a series of savings and underspends that will allow Mr Osborne to say he is still on course to balance the books.

We have one simple solution for George: the expected cost of HS2 is £50billion. Your black hole is £50 billion. Cancel HS2 and save £50bn of future spending with the stroke of a red pen.

PS Osborne used the Autumn Statement in 2012 to delay HS2

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