"Imagine what would have happened if we had rushed in the spring or summer of 1998 with big reductions," he said.

"I do not believe there will be another big reduction before the summer," he said.

For taxi drivers, it means a big reduction in the work day.

"But by waiting a few hours, I've noticed a big reduction in muscle pain that used to come on two days later."

But yesterday the government said that factories cut another 141,000 jobs, their biggest reduction since July 1998.

There will be a very big reduction of the state's participation in the economy.

Surely retail is set for big reductions on last year?

That's a big reduction, which will force voters to focus on the categories they care about the most.

Despite big reductions in official interest rates, the economy was not responding as it would be expected to.

"I will also make a big reduction in the bill."