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David Cameron has repeatedly used the phrase 'one out of every 100 pounds' to talk about Conservative public spending cuts plans. It sounds as if its just one per cent of that budget. Editor Tim Harford of Â鶹Éç's More or Less team, took a closer look at what it means, comparing it to a pizza. "Imagine that public spending is a delicious, gigantic, £746bn pizza - that's £12,000 a person," said Mr Harford "That's not the whole story. Because a lot of this pizza isn't going to be cut" Tim explained. "One per cent a year cuts actually imply departmental spending cuts of about seven per cent over the next parliament."