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British leader outlines growth plans

British leader outlines growth plans

British Prime Minister David Cameron says that growth cannot be restored in Britain until its massive budget deficit is reduced.
In his first major speech as leader, Cameron said Friday that he plans to rebalance the country's economy away from reliance on a few sectors, such as financial services, and a few regions, particularly London.
Cameron, whose Conservative Party formed a coalition with the Liberal Democrats to form government earlier this month, says he'll lay out a plan to cut the deficit in an emergency budget next month.
Britain's deficit is running at close to 12 percent of gross domestic product.
Cameron also promises to reform the financial sector by "getting to grips with the bonus culture" and making banks serve the real economy.


Updated : 2021-06-20 12:24 GMT+08:00