Clegg Says U.K. to Continue Fiscal Squeeze Amid Recession Threat
This article is for subscribers only.
Deputy Prime Minister Nick Clegg said the coalition government will stick to plans for the biggest fiscal squeeze since World War II even after the U.K. economy contracted in the fourth quarter.
“We’re absolutely not going to change course in paying off one of the world’s largest budget deficits,” Clegg said in an interview with the BBC yesterday. Even with bright spots such as record employment, the U.K. faces “a long, hard road. There are other parts of the economy that will take longer to fix.”