Every government looks to save money. Sometimes, it’s a priority to reduce spending, as with post-2010 austerity. Even when overall spending is rising, politicians may reduce spending in one area to make progress on a priority elsewhere. Doing things more efficiently is always a good idea.

But announcing a spending cut is not the same as reducing spending, let alone achieving value for taxpayers’ money. That is a key lesson of the austerity years. Cuts announced in haste in one area today have repeatedly led to........

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