Menu
21/06/2010
Harsh Budget Cuts Looming
Doom and gloom surround anticipated cut backs to be announced in tomorrow's 'emergency Budget'.
Today, it was confirmed that the Chancellor, George Osborne and senior cabinet members have 'signed off' the Budget and has already warned Britain will be "on the road to ruin" unless borrowing is reduced, but denied his plans are driven by ideology.
However, unions say it is a "myth" that harsh cuts are needed; they argue the move could send the UK back into recession and Labour have said a spending squeeze will create a "slow growth" economy.
Mr Osborne has said his four-year plan to bring down borrowing - set to total £155bn this year - requires "tough action".
He has said he is "not prepared to put up with" borrowing levels as they stand, since they will result in "higher interest rates, businesses going bust, unemployment rising and our living standards declining" going forward.
(BMcC/GK)
Today, it was confirmed that the Chancellor, George Osborne and senior cabinet members have 'signed off' the Budget and has already warned Britain will be "on the road to ruin" unless borrowing is reduced, but denied his plans are driven by ideology.
However, unions say it is a "myth" that harsh cuts are needed; they argue the move could send the UK back into recession and Labour have said a spending squeeze will create a "slow growth" economy.
Mr Osborne has said his four-year plan to bring down borrowing - set to total £155bn this year - requires "tough action".
He has said he is "not prepared to put up with" borrowing levels as they stand, since they will result in "higher interest rates, businesses going bust, unemployment rising and our living standards declining" going forward.
(BMcC/GK)
Related UK National News Stories
Click here for the latest headlines.
23 April 2013
Slight Fall In Government Borrowing
The amount of borrowing by the UK Government has fallen to £120.6bn over the last financial year, the Office for National Statistics has said. Borrowing also fell in the month of March, from £16.7bn in 2012 to £15.1bn in 2013, as spending cuts across various Government departments began.
Slight Fall In Government Borrowing
The amount of borrowing by the UK Government has fallen to £120.6bn over the last financial year, the Office for National Statistics has said. Borrowing also fell in the month of March, from £16.7bn in 2012 to £15.1bn in 2013, as spending cuts across various Government departments began.
29 September 2010
UK's Unsecured Debt Being Repaid
The Bank of England has said UK consumers repaid more unsecured debt than they took out in new loans during the month of August. Since November 2009, net consumer credit, including overdrafts, personal loans and credit card borrowing, fell substantially by £120m.
UK's Unsecured Debt Being Repaid
The Bank of England has said UK consumers repaid more unsecured debt than they took out in new loans during the month of August. Since November 2009, net consumer credit, including overdrafts, personal loans and credit card borrowing, fell substantially by £120m.
02 February 2011
Spending Cuts 'Hard To Deliver'
The Institute for Fiscal Studies (IFS) have warned that new Government that spending cuts would be "formidably hard to deliver". The institute's comments, made in its Green Budget, aims to assess the UK Government's position before the Budget.
Spending Cuts 'Hard To Deliver'
The Institute for Fiscal Studies (IFS) have warned that new Government that spending cuts would be "formidably hard to deliver". The institute's comments, made in its Green Budget, aims to assess the UK Government's position before the Budget.
12 April 2005
Labour and Lib Dems attack Tory economic policy
Labour and the Liberal Democrats have launched attacks on the Conservatives economic policy. Speaking at a Labour press conference, Chancellor Gordon Brown described the manifesto published by the Conservatives yesterday as a " document of few words and fewer figures, a shopping list of promises based on sums that cannot and do not add up.
Labour and Lib Dems attack Tory economic policy
Labour and the Liberal Democrats have launched attacks on the Conservatives economic policy. Speaking at a Labour press conference, Chancellor Gordon Brown described the manifesto published by the Conservatives yesterday as a " document of few words and fewer figures, a shopping list of promises based on sums that cannot and do not add up.
04 September 2012
Chancellor George Osborne Booed At Paralympics Medal Ceremony
Chancellor George Osborne's stint as a Paralympic medal presenter was marred yesterday when spectators booed his name. Jeering erupted when his name was announced at the 80,000-seater Olympic Stadium, where he was due to present medals to the winners of the men's T38 400m race.
Chancellor George Osborne Booed At Paralympics Medal Ceremony
Chancellor George Osborne's stint as a Paralympic medal presenter was marred yesterday when spectators booed his name. Jeering erupted when his name was announced at the 80,000-seater Olympic Stadium, where he was due to present medals to the winners of the men's T38 400m race.
-
Northern Ireland WeatherThis Evening and Tonight:Showers, scattered in the evening, will clear by midnight leaving the night dry with clear spells. Perhaps a touch of ground frost. Cloud will spread east towards morning. Minimum temperature 2 °C.
