Today's Coming Crisis Movie

Thursday, July 19, 2012

David Cameron: austerity will last until 2020

In an interview with The Daily Telegraph, Mr Cameron says that he now expects the crisis in the eurozone to drag on for years, blighting the British economy.

He indicates that the programme of spending cuts, initially planned to take five years, is now likely to last for the entire decade.

Mr Cameron insists that he still wants to cut tax but that any reductions would have to be funded by even greater public spending reductions.

Asked whether the austerity programme would now last a decade until 2020, the Prime Minister replies: “I think it’s going to be...this is a period for all countries, not just in Europe but I think you will see it in America too, where we have to deal with our deficits and we have to have sustainable debts. I can’t see any time soon when…the pressure will be off.

“I don’t see a time when difficult spending choices are going to go away.” Read More