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HomeThe UK Takes a “Hard Road to a Better Future”
Posted by Larry Doyle on October 20th, 2010 8:47 AM |
The United Kingdom may be our closest political ally but in terms of financial paths, our friends across the pond are taking a decidedly different tact in terms of addressing their mountainous fiscal deficit. Today’s news that the UK will undertake real fiscal austerity was a foregone conclusion with the election of new Prime Minister David Cameron this past May. That said, the reality of the news does pack a wallop when contrasted to the deficit spending here in the United States. For details on the UK’s renewed sense of austerity, let’s review The WSJ’s U.K. Treasury Chief Details Spending Cuts:
U.K. Chancellor of the Exchequer George Osborne laid out sweeping spending cuts Wednesday, sticking to the timetable for paring back the budget deficit that he unveiled in June. (more…)
