Independent
"The Chancellor admitted today the recession was far deeper than he had predicted as he announced a public sector pay squeeze to help curb soaring national debt.Alistair Darling laid out plans to slash public spending in real terms from 2011 - after the General Election - as he revealed the economy would shrink by 4.75 per cent in 2009 compared to his April Budget estimate of 3.5 per cent.He also said the public finances were deeper in the red with a deficit of £178 billion this year compared to the £175 billion he had predicted."
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