Real reason for fall in social spending
He bemoans the fact that social spending has fallen from 21% of GDP in 1992 to 14% in 2001 and seems to attribute the drop to reductions in corporation tax. That is ridiculous.
Social spending includes unemployment benefits. Joblessness plummeted over those nine years from 17% to 4%. Naturally, that would reduce the overall spending on unemployment benefits and, consequently, social spending.
