Britain Details Radical Cuts in Spending, Citing Debt

New York Times by Sarah Lyall, Alan Cowell | Oct. 20, 2010 (News)

The British government on Wednesday unveiled the country’s steepest public spending cuts in more than 60 years, reducing costs in government departments by an average of 19 percent, sharply curtailing welfare benefits, raising the retirement age to 66 by 2020 and eliminating hundreds of thousands of public sector jobs in an effort to bring down the bloated budget deficit. Full Story »

Posted by Jon Mitchell - via Dave Weigel, Google News (World), New York Times (Most Emailed), OTown TeaParty (t), David K. Miller (t), Steve Murray (t), Ray Nichols (t), Thanh Tran (t), Salvador Sala (t), Ish Harshawat (t)

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Related Comments: Global Economy (2)

3.8

by Jon Mitchell - Oct. 20, 2010

Very informative, balanced reporting on the structure and potential impacts of these historic spending cuts. Much more balanced coverage than the BBC article, but still not much reaction from the public.

Spending Review: Osborne wields axe - See Review »

Jon posted this story.

See Full Review » (11 answers)

4.2

by Kaizar Campwala - Oct. 20, 2010

Of the three articles I read on this story, the Times is the only one that gave significant space to a dissenting economist.

See Full Review » (11 answers)

2.4

by Martha Rosler - Oct. 20, 2010

this is the Cameron goverment's talking points. no analysis is offered except a brief structural underpinning, and only Stiglitz in opposition. what about Miliband (Labour)'s response?

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3.6

by Warrior Wheatman - Oct. 21, 2010

A well written detailed report on the radical conservatism taking hold in the UK. Life-changing, I wonder where it will lead. Enough gist here for a 2000 page analysis. I can only presume some backtracking; that this was meant to prepare the population. A half million job shedding to the UK is equal to a fifth of US employment.

Britain’s public deficit is one of the highest among developed economies, running at 11.5 percent of total economic output, compared with 10.7 percent for the United States and 5.4 percent for Germany. Besides Financial Transaction tax, a sales tax of 20% will make cost of living go up.

But, he said, the National Health Service — one of the most politically delicate institutions in Britain — will be allocated more money, rather than less. He also said ... More »

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3.6

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Spending Review: Osborne wields axe

BBC News | Oct. 20, 2010 (News)

Chancellor George Osborne has unveiled the biggest UK spending cuts since World War II, with welfare, councils and police budgets all hit.

Posted by Jon Mitchell

3.6

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UK government unveils $132bn cuts - Financial Times US

Financial Times | Oct. 20, 2010

George Osborne has ushered in an era of public sector austerity outlining plans in his long awaited comprehensive spending review

via NewsRack

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The spending review: Easier said than done

Economist | Oct. 20, 2010

Posted by Kaizar Campwala

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