They are not interchangeably the same thing - BBC news link
See also the important change that is needed in our national discussion on the economy - BBC News - Geithner tells Europe to focus on growth
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27 June 2010
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If we're going to get into semantics Osama then the coalition isn't 'cutting' spending either - the budget projected a 9% increase in public spending between now and 2014.
That's against projected inflation of 13% and hence a real-terms cut but I suspect if you told most ordinary punters they'd get a 9% rise over the next 4 years and that yes, inflation might mean it's a real terms cut then they'd snap your hand off for it.
Posted by: Liam Murray | 28 June 2010 at 02:50 PM