Wednesday 20 October 2010

UK facing 'Sober' decade, warns Bank of England Governor Mervyn King

Telegraph
"The Governor's call for a transformation in the national character comes as the Chancellor on Wednesday outlines the sharpest spending cuts since at least the Second World War. He will unveil detailed plans to cut spending by £83bn to address the £935bn national debt and £109bn structural deficit – the annual overspend left once the economy has fully recovered. "

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