UK's pain 'to get worse'
By Robert Barr |
June 8, 2010, Tuesday
|
Print Edition
Print Edition
THE pain of cutting Britain's national deficit will be worse than previously feared and will affect everyone in the country, Prime Minister David Cameron said yesterday.
Laying out the reasons for squeezing spending, Cameron said the nation could not avoid cutting a deficit which rose to 156 billion pounds (US$225 billion) in the last fiscal year.
He has suggested that welfare programs and expenditure for civil servants are high on the list of possible cuts and confirmed that capital gains tax would go up, but otherwise gave no fresh details.
Instead, he concentrated on explaining why he believes drastic action is required - and placing the blame on the Labour Party governments of the previous 13 years.
"The overall scale of the problem is even worse than we thought," Cameron said.
"Its potential consequences are therefore more critical than we feared."
His government intends to announce an emergency budget on June 22 that will lay out the first steps in cutting the deficit.
Laying out the reasons for squeezing spending, Cameron said the nation could not avoid cutting a deficit which rose to 156 billion pounds (US$225 billion) in the last fiscal year.
He has suggested that welfare programs and expenditure for civil servants are high on the list of possible cuts and confirmed that capital gains tax would go up, but otherwise gave no fresh details.
Instead, he concentrated on explaining why he believes drastic action is required - and placing the blame on the Labour Party governments of the previous 13 years.
"The overall scale of the problem is even worse than we thought," Cameron said.
"Its potential consequences are therefore more critical than we feared."
His government intends to announce an emergency budget on June 22 that will lay out the first steps in cutting the deficit.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
