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As David Cameron unveils budget cuts that will affect "our whole way of life", the chancellor, George Osborne, is busily studying how Canada rapidly solved its debt crisis in the 1990s, turning a budget deficit of 9% of GDP into a surplus in three years. But lessons of Canada's 1990s deficit reduction under the Liberal prime minister Jean Chrétien will not be easy to emulate in Britain, and while many of the cuts were reversed in Chrétien's later years in office, the Conservative-Lib Dem coalition have said little to indicate that they would be prepared to do the same: in …
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