Tuesday, 10 November 2009

European Commission asks UK to deliver £25bn a year in spending cuts

"The European Commission will propose tomorrow that the UK's budget deficit be brought down from a prospective 12 per cent of GDP to just 3 per cent by 2014-15, requiring tax increases and public spending cuts as yet unimagined by the main political parties. It would mean about £25bn in spending cuts and tax rises every year."

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