Cameron Offers Optimism Amid Worse-Than-Expected U.K. Slump
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Prime Minister David Cameron acknowledged that Britain’s economic slowdown has been worse than he expected, as he bid to reassure voters he’s “laying the foundations for a better future.”
With data today showing growth slowed more than initially estimated in the second quarter, Cameron argued in his closing speech to the annual conference of his Conservative Party that his strategy is still the right one. Echoing Chancellor of the Exchequer George Osborne two days ago, the premier said the debt crisis hitting developed economies won’t respond to the fiscal stimulus that might be appropriate for other recessions.