Summary
DAVID CAMERON told the country to be ready for an era of deep cuts and painful restraint to revive Britain's ailing economy, as the Treasury today sets out the principles underpinning the coalition Government's programme of austerity.
The Prime Minister, in a keynote speech, talked of pain, difficult decisions and unavoidably tough measures as he warned that if nothing was done, taxpayers would in five years' time be paying pound(s)70 billion a year in interest payments on the national debt - compared to the current pound(s)42bn.See the full content of this document
Extract
Cameron Warns of Deep Cuts and Pain to Come
"Interest payments of pound(s)70bn mean that for every single pound you pay in tax, 10p would be spent on interest," he said. "Is that what people work so hard for - that their taxes are blown on interest payments o...
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