UK: a 'tough' budget...

... for 'tougher' times to come!

The most savage public spending cuts since Margaret Thatcher’s first term in office were announced today in the UK, accompanied by a sharp rise in VAT and the prospect of public sector workers facing a two-year pay freeze (here). The budget announced today imposes austerity measures on every family with a £40bn package of emergency tax increases, welfare cuts and government spending restraint - promising 'pain now and more pain later' (here) - all prompting fears that the country may plunge further into recession (here).

... for 'tougher' times to come!

The most savage public spending cuts since Margaret Thatcher’s first term in office were announced today in the UK, accompanied by a sharp rise in VAT and the prospect of public sector workers facing a two-year pay freeze (here). The budget announced today imposes austerity measures on every family with a £40bn package of emergency tax increases, welfare cuts and government spending restraint - promising 'pain now and more pain later' (here) - all prompting fears that the country may plunge further into recession (here).