British Prime Minister David Cameron said his government will stick with its deficit-reduction plans amid calls from the opposition for a rethink with the nation in a double-dip recession.
“We’ve cut the deficit by a quarter already, and we are sticking to this course: rejecting the easy path; restoring sanity to our finances,” Cameron wrote in an opinion column published today in the Mail on Sunday newspaper.
“You cannot borrow your way out of a debt crisis,” Cameron wrote. “We’re on a hard road to balancing Britain’s books.”
He said the euro-region’s debt crisis has “made things more difficult” for reviving U.K. growth and reducing the deficit.
Cameron said he wants to promote so-called green technology and advanced manufacturing as ways to boost the size of the private sector and lessen the significance of “unsustainable financial services”.