UK Makes Shockingly Large Cuts to Solve Budget Crisis
British Parliament has taken a different route to solving the budget crisis in the UK. Instead of deficit spending, they will cut government services, but the consequences are large...
This article was originally covered by PRI's The World. For more, listen to the audio above.
The British government has detailed a package of deep spending cuts aimed at cutting the country’s deficit. Britain’s finance minister, Chancellor of the Exchequer George Osborne told members of parliament in London, the savings were essential to drag Britain back from the economic brink. But the plans will be painful for many. Nearly half a million public sector jobs will be cut, as will welfare payments. Laura Lynch reports on Britain’s new age of austerity.
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