Cut spending, increase taxes. Pay more, get less. Awesome. For Britain.
Sphere: Related ContentBritain’s structural deficit should be eliminated in five years by cutting public spending and raising taxes, finance minister George Osborne said Tuesday in the new government’s first budget.
“We are on track to have debt falling and a balanced structural currentbudget by the end of this parliament” in 2014-15, said Osborne, who is a key member of Britain’s Conservative-Liberal Democrat coalition government.
The Conservative Party had made a key election pledge to eliminate the bulk of the structural deficit within five years.
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