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Reforming the state: Radical Britain
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The Cameron and Tory plan to cut the deficit quickly is a gamble, especially if fiscal cuts choke off growth. Cuts could have been made in the NHS which would have put less stress elsewhere. The huge budget deficit, at 11% of GDP, says the Economist, left Mr Cameron and his Liberal allies with few options. By generating three quarters of the savings through spending cuts, by cutting most government department budgets by 25%, Britain has taken a radical course. Chancellor of the Exchequer Osborne's focus is on slimming the government, and Cameron's closest adviser Hilton is looking at decentralizing government. A course certainly not expected from Mr Cameron's coalition with Mr Clegg's Liberals, and not in the first 100 days. Now it remains to be seen when Spain, and America look to Britain for ideas, says the Economist in this editorial.
Britain's new 2010 Budget marks a big change from the past.
05/13/2010
The UK Chancellor of the Exchequer, George Osborne, put forward a budget with a 25% spending cut by 2015 in all departments except health and international aid. This marks a huge departure in years of spending by the Labor governments. The new Conservative-Liberal coalition government is determined to take austerity measures to reduce the national debt.
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Britain Details Radical Spending Cuts, Citing Debt
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U.K. Plans New Taxes on Banks, Multinationals
Wall Street Journal 12/04/2014
Tough Slog to Balancing U.K.’s Budget
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Overheard: Digging for Answers on Coal
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The economy of Britain in 2009-2010.
10/01/2009
Britain undergoes six quarters of declining GDP in September 2009.
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In U.K. Election, It’s Jobs Boom vs. Stagnant Wages
Wall Street Journal 05/07/2015
U.K. Is Still in Recession as the Euro Bloc Improves
New York Times 10/24/2009
U.K. Numbers On Growth Don't Add Up
Wall Street Journal 10/24/2009
Economist 10/01/2009
‘Lost Decade’ Feared for British Economy
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U.K. Unveils Severe 'Unavoidable Budget'
Wall Street Journal 06/23/2010
Conservative leader Osborne takes on Britain's deficit in earnest and presents an austerity plan.
10/08/2009
All sections of U.K. society are asked to share the burden of reducing the deficit.
Grouped Articles
U.K. Politicians Vie to Address Fall in Living Standards
Wall Street Journal 11/18/2013
Britain: Sparing Health Care from Budget Cuts
BusinessWeek 10/14/2010
U-Turn in the U.K.: Big Spending Cuts
Wall Street Journal 10/14/2010
Britain Details Radical Spending Cuts, Citing Debt
New York Times 10/20/2010
Tax rates in Britain: François Miliband
Economist 02/04/2014
U.K. Plans New Taxes on Banks, Multinationals
Wall Street Journal 12/04/2014
The new Liberal-Conservative coalition government in Britain.
05/13/2010
The U.K. has a new coalition government which is focussed on correcting the situation with the budget deficit which imperils Britain's financial rating.
Grouped Articles
Tough Slog to Balancing U.K.’s Budget
Wall Street Journal 12/04/2014
Britain's accidental revolution
Economist 05/13/2010
Economist 05/13/2010
Economist 05/13/2010
U.K. Unveils Severe 'Unavoidable Budget'
Wall Street Journal 06/23/2010
Reforming the state: Radical Britain
Economist 08/14/2010
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