Sept. 2 (Bloomberg) -- 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”.
To contact the reporter on this story: Dick Schumacher in London at firstname.lastname@example.org
To contact the editor responsible for this story: Dick Schumacher at email@example.com