George Osborne and David Laws announce 6.2 billion pounds of public spending cuts
George Osborne and David Laws announce 6.2 billion pounds of public spending cuts; David Laws speech continues SOT
- We are also allocating an additional 170 million to fund investment in social rented housing in 2010/11, to help deliver 4,000 social housing starts. And we will freeze backdated business rates payments under the 8 year schedule of payments, including businesses in ports, until April 2011. We will consider any further action in this area and bring forward any plans before the freeze ends. These are only the first steps which we will need to take in order to put our public finances back in shape. **brief loss of picture** There will be many more tough decisions, but we believe that the British people understand that these choices can no longer be ducked. The years of public sector plenty are over. But the more decisively we act, the more quickly and strongly we can come through these tough times. We also promise to cut with care. We are going to be a progressive Government even in these difficult times. When the Prime Minister asked the Chancellor and me to come to the Treasury at this time of great national challenge we were determined jointly that we would work together to deliver three objectives:
- To restore responsibility to the public finances.
- To nurture the economic recovery.
- And to protect the vital public services which we all depend upon, and those in our society who are least able to bear the burdens of national austerity.
This will not be an easy task, but we are willing to be judged against those tests.
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