London: Cutting debt is harder than anyone had expected but Britain must stick to its deficit-cutting programme, Prime Minister David Cameron told a business conference on Monday.
Britain’s Prime Minister David Cameron. Bloomberg.
Cameron also said growth was not strong enough, and repeated his assertion that a resolution of the euro zone crisis would prove a bigger boost to the British economy than anything else.
“Getting debt under control is proving harder than anyone envisaged. High levels of public and private debt are proving to be a drag on growth, which in turn makes it more difficult to deal with those debts,” Cameron said.
“But this also undermines further the case for adding to the national burden of debt with even more borrowing.”