DAVID CAMERON has warned that the economy is in a far worse state than previously thought and signalled that Britain faces years of “pain” as the spending axe falls.
The prime minister indicated a sharp downgrade in official growth forecasts and revealed that welfare and public sector pay would bear the brunt of budget cuts.
It is understood that tough measures being considered to help control the £156 billion budget deficit include benefit freezes and cuts in child tax credits. There are also likely to be below-inflation pay rises for state employees on top of next year’s planned freeze.
In an interview with The Sunday Times, Cameron said: “Proper statesmanship is taking the right action, explaining to people the purpose behind the pain.
The prime minister said there would be no “trampoline recovery” of the economy.
....and more obvious: BP BLACK RAIN.
ReplyDeletepoliticians talk about cutting the budget every year and every year, they spend more.
ReplyDeleteArnold wanted to do some drastic cuts in Cali, but it won't pass. Look what happened in Greece when they HAD to make drastic cuts...
Imagine if we made the cuts needed to just balance the budget, let alone start really paying on the debt.
Hmm, liberal Britain is starting to get the picture. When will the US?
ReplyDeleteAs for the US, we start with cutting the pay of Congress to the Federal Minimum Wage. They can live in dorms, while in DC. No more lifetime, full pay, retirement after even ONE term in office.
ReplyDeleteA lobbyist, when they register, will have to pay 100 million dollars annually or they don't get near Congress.
No more junkets, no more free rides.
Hmmm, and DOW down 115 today, so far.
ReplyDelete