Ken Clarke said the downturn was far worse than in the 1990s A Conservative government would have to be much tougher on public spending than "Margaret Thatcher ever was", Shadow Business Secretary Ken Clarke has said.In an interview with the Times, he said the Tories would have to cut spending more severely than in the 1980s. Mr Clarke also described his party as being "vague" on possible tax increases, such as raising VAT. But the former chancellor said that was because it was not something the Conservatives liked doing. Difficult situationHe said: "If you are going to increase taxes you have to look at all your revenues. "But we are definitely going to have cuts in spending. We are vague about tax increases because we don't like them." Mr Clarke, who will be 70 in July, said a future Tory administration would face a more difficult situation than he ever did as a minister in the past. "This is the longest, deepest recession anyone alive can now remember," he said.[Read more...]