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SNP campaign co-ordinator Stewart Hosie claims Lib Dem calls to limit business rate rises "would be deeply damaging for jobs and small businesses in Scotland". The Lib Dems say some firms could be hit by increases of 100% following a re-evaluation and want the rises capped at 12.5%, or 5% for smaller business. However, Mr Hosie says this would result in smaller enterprises subsidising large firms and the public sector, seeing "supermarkets pay less and tens of thousands of small businesses paying much, much more". Lord Layard, one of 77 leading economists to warn that Conservative plans for spending cuts risk tipping the economy back into recession, tells Sky's Jeff Randall it would be "extremely foolhardy" to cut public spending before private spending has risen sufficiently to compensate. Robert Chote, from the Institute of Fiscal Studies, says he sympathises with that view but that Labour's plans to reduce the deficit are "not ambitious enough over five years".
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