Pre-Budget report: middle-class, bankers and public sector staff will all suffer

Telegraph
"Middle-class workers, City bankers and public sector employees will have to sacrifice billions of pounds to pay off Britain’s record debts, Alistair Darling, the Chancellor has announced in his pre-Budget report. ...But he also admitted that the recession has been the worst in modern history, forcing him to borrow more than £700 billion over five years. ...In the Budget in April, Mr Darling said the economy would shrink by 3.5 per cent. Today, he admitted the decline will be 4.75 per cent, the worst since the Second World War."