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P134 CEEFAX 134 Fri 5 Nov 16:23/34       POLITICS  DEFENCE CUTS "SHEER FOLLY" - LABOUR Labour has reacted angrily to reports that the Chancellor may announce multi-billion pound defence cuts in his Budget. Shadow Defence Secretary David Clark said the reported planned cuts of £1.5 billion in the next three years, with a possible further £5bn in cuts over the next 10 years, were "sheer folly". Dr Clark has demanded that Defence Secretary Malcolm Rifkind and the Chancellor reassess the plans "as a matter of utmost urgency".  Home 110 Politics 130 World 160 Next News Home News Main News CityHeads