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David Cameron insists spending cuts were 'fair' | David Cameron insists spending cuts were 'fair' |
(about 1 hour later) | |
David Cameron has insisted the Spending Review cuts were conducted in the right and "fair" way, with the highest earners bearing the greatest burden. | David Cameron has insisted the Spending Review cuts were conducted in the right and "fair" way, with the highest earners bearing the greatest burden. |
In a No 10 podcast, the prime minister said the UK faced a "hard road" but he did not "underestimate how difficult this will be". | |
He said drastic action was essential to cut the economic deficit. | He said drastic action was essential to cut the economic deficit. |
The Institute for Fiscal Studies has suggested the burden of cuts would fall disproportionately on the poorest. | The Institute for Fiscal Studies has suggested the burden of cuts would fall disproportionately on the poorest. |
The spending cuts aim to reduce the economic deficit by £81bn over four years. | The spending cuts aim to reduce the economic deficit by £81bn over four years. |
href="http://www.number10.gov.uk/" >In the No 10 podcast, the prime minister said: "We didn't just do the right thing, we did it the right way. We've gone about these spending cuts in a way that is fair and in a way that promotes economic growth and new jobs. | |
"Fair because if you look at the figures, you'll see the highest earners aren't just paying more in cash, they are paying more as a percentage of their income. | "Fair because if you look at the figures, you'll see the highest earners aren't just paying more in cash, they are paying more as a percentage of their income. |
"As we promised, those with broader shoulders are bearing a greater burden. | "As we promised, those with broader shoulders are bearing a greater burden. |
"What's more we've chosen to protect the services that families rely on, like the health service, schools, and social care." | "What's more we've chosen to protect the services that families rely on, like the health service, schools, and social care." |
But analysis by the Institute for Fiscal Studies suggests many of the cuts will fall on the nation's poorest. The richest 2% will be subject to tax rises announced under Labour. | But analysis by the Institute for Fiscal Studies suggests many of the cuts will fall on the nation's poorest. The richest 2% will be subject to tax rises announced under Labour. |
In his podcast, Mr Cameron said that the spending review had also been designed promote economic growth. | In his podcast, Mr Cameron said that the spending review had also been designed promote economic growth. |
"We're going to make the next decade the most entrepreneurial in Britain's history, and transform the fortunes of our country," he said. | "We're going to make the next decade the most entrepreneurial in Britain's history, and transform the fortunes of our country," he said. |
"I know the road ahead will be hard. But we have a plan. We are seeing it through. And believe me, the destination will be worth it. A Britain with a strong, positive and confident future." | "I know the road ahead will be hard. But we have a plan. We are seeing it through. And believe me, the destination will be worth it. A Britain with a strong, positive and confident future." |
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