Britain facing biggest budget cuts in decades (AFP) – NIMBRUNG.NET

LONDON (AFP) –
Britain is preparing for big spending cuts and tax hikes in the new government’s emergency budget on Tuesday as Prime Minister David Cameron’s coalition attacks a record deficit.

Chancellor of the Exchequer George Osborne will deliver the Conservative-Liberal Democrat coalition’s first budget to parliament since taking power after last month’s general election.

Preparing millions of public sector workers for savage cuts, Cameron said it was “fair” that they should face a squeeze on pay and pensions.

“There is no way of dealing with an 11 percent budget deficit just by hitting either the rich or the welfare scrounger,” he said in an interview with The Times newspaper on Saturday.

Finance minister Osborne was meanwhile reportedly ready to announce a freeze in welfare benefit payments.

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