“Consumers could start to save more of their income in an effort to make up for stock losses, causing a cutback in spending.”

“It went through a major cutback in March 2000, and was shut down in October.”

“With inflation running at around 4 per cent, ministers will regard this as a cutback in all but name.”

“They charge that the cutbacks are so severe that the firm will be left floundering once the market recovers.”

“Other companies that previously raised money have made cutbacks to reduce costs.”

“Almost half of the stimulus simply offsets the contractionary effect of cutbacks at the state level.”