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According to the very popular and reputable think tank, the Institute for Fiscal Studies (IFS), the UK is experiencing cuts as long-running and considerable as the ones during the World War II days. Indeed, cuts are going into their sixth year right now, and there doesn’t appear to be any end in sight. Many government departments could have their budgets reduced by up to one-third, which is sure to have a major effect on the way that they function. In order to quell concerns among private citizens – many who are relying on payday loans to get by – the government claims that these cuts will be more problematic for the rich than they will be for the poor; the IFS is not convinced of that, however. (more…)