Mr David Cameron, the Prime Minister, said in a speech that ‘in five years’ time the interest we are paying on our debt is predicted to be ‘around £70 billion’; this meant that of ‘every single pound you pay in tax, ten pence would be spent on interest’.
Mr David Cameron, the Prime Minister, said in a speech that ‘in five years’ time the interest we are paying on our debt is predicted to be ‘around £70 billion’; this meant that of ‘every single pound you pay in tax, ten pence would be spent on interest’. Decisions on how to reduce the deficit ‘will affect every single person in our country’, he said. Mr George Osborne, the Chancellor of the Exchequer, asked the public for ideas on public-spending cuts. Mr Osborne is to establish a so-called ‘star chamber’ before which departmental ministers will be required to justify their budgets.
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