Swingeing v swinging?

[bamboostalks]

Would someone be able to explain swingeing as in "swingeing cuts" rhyming with whinge. Has this word always been about? I have noticed it in abundance recently.

Definition of swingeing

New Statesman on the word

Nother informative article.

Swinging means, well, swinging.

Thanks but what is the correct pronunciation as I have heard it both ways?

No pun intended there.

"swinge" to rhyme with binge or hinge (or minge).

"swing" to rhyme with ping or ting or ring.

Thanks Wigeon, have noticed some presenters saying it both ways, that is what sparked my interest.