David Cameron defends debts strategy
Monday 21 November 2011
David Cameron admitted today that reducing Britain's debts was proving "harder than anyone envisaged".
But the Prime Minister blamed those same debts for acting as a "drag on growth" and insisted that the Government had to press on with its deficit reduction plans.
Speaking to business leaders at the CBI conference in London, Mr Cameron insisted there was no justification for claims that additional spending now would pay off later.
"Yes, getting debt under control is proving harder than anyone envisaged. High levels of public and private debt are proving to be a drag on growth, which in turn makes it more difficult to deal with those debts," he said.
"But this also undermines further the case for adding to the national burden of debt with even more borrowing.
"Yes, there are some who seriously try to argue that additional spending and borrowing will actually lead to less debt in the end, despite the fact that no evidence supports this assertion.
"These arguments are just a way of avoiding difficult decisions, the kind of something-for-nothing economics that got us into this mess, which is why no indebted European country is taking that path."
- 1 iOS 8 apps and features: eight iPhone settings you need to look at after you install the update
- 2 Kim Kardashian 'nude photos' leaked on 4chan weeks after Jennifer Lawrence scandal
- 3 'F*ck it, I quit': TV reporter Charlo Greene quits live on air in spectacular fashion
- 4 Scotland could still declare independence – even without referendum, says Alex Salmond
- 5 Hitler’s former food taster reveals the horrors of the Wolf’s Lair
Rihanna 'nude photos' claims emerge on 4Chan as hacking scandal continues
Kim Kardashian 'nude photos' leaked on 4chan weeks after Jennifer Lawrence scandal
Khorasan: Muhsin al-Fadhli - the man leading a terror group more feared by US officials than Isis
'F*ck it, I quit': TV reporter Charlo Greene quits live on air in spectacular fashion
Alicia Keys leaks nude photo 'to create a kinder and more peaceful world'
Scotland could still declare independence – even without referendum, says Alex Salmond
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Hilary Mantel 'should be investigated by police' over Margaret Thatcher assassination story, says Lord Bell
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Plebgate MP Andrew Mitchell called officer a 'little s**t', claim court documents 'exposing ex-Chief Whip's 'record of abusing police'
Archbishop of Canterbury admits doubts about existence of God
£300 - £350 Per Day: Clearwater People Solutions Ltd: Pharmaceutical Computer ...
£70 - £90 per day: Randstad Education Birmingham: Higher Level Teaching Assist...
£50 - £80 per day: Randstad Education Birmingham: Randstad Education is the UK...
£400 - £450 Per Day: Clearwater People Solutions Ltd: Our client is currently ...