WE are now in our “Conference Recess” so I am spending most days in meetings in the constituency.

But the main topic of political conversation does not change – how will the coming spending cuts hit the economy and how can they help growth?

More will be revealed on October 20 when the Comprehensive Spending Review is made public.

But, before we reach that point, I would say three things.

First, there has been a huge amount of hysteria about the scale of the cuts. A 25 per cent cut in spending over the next four years (a likely scenario for unprotected government departments) means a six per cent annual reduction in spending – something businesses all across the country have been able to find as the recession hit without a drastic loss of service.

Secondly, there is an underlying argument about dealing with the debts of the last Government now that I firmly endorse.

Everyone knows that, if you have a debt problem, it gets worse the longer you leave it. In this case, there is also a moral case to be answered – it is, to my mind, wrong for our generation to leave our children and grandchildren burdened with our debts to pay off with their taxes. Third, it is the prize of greater growth in the economy that is the real motivation for these changes in spending. To make our economy stronger and more balanced we need more investment and job growth in the private sector. This comes from lower interest rates, more business confidence and a competitive tax environment.

Since we set out the emergency budget, interest rates for borrowing have halved, which is a direct benefit for businesses of every size, and international investors are once again investing in Britain. Business taxes are also being reduced, which will stimulate the innovation and enterprise we need. It’s a tax and spend balancing act – one I believe we have got right. Of course there will be painful decisions which affect us locally. With more than 30 per cent of people in the Devizes constituency working in the public sector, I am deeply concerned about the impact of possible job losses and cuts in capital spending and will work to mitigate the impact of the spending review as much as possible.

But if we stick to the plan and make these tough choices, the prize will be a Britain back on the path to prosperity.