UK makes spending cuts in tough emergency budget
June 22, 2010 In an emergency budget aimed at repairing the country's economy,
George Osborne said Tuesday his program "pays for the past and
plans for the future."
He said the government will make 30 billion pounds per year ($44
billion) in cuts to spending by 2014-15.
Osborne said Queen Elizabeth II had accepted a freeze on
financial support from government under his plans, and the
government will impose a two-year wage freeze on most civil
servants.
Britain's Office for Budget Responsibility forecasts government
borrowing will total 155 billion pounds ($228 billion) in the
current year.
