Cameron: ‘Years of pain ahead’

(Times Online): David Cameron has warned that the economy is in a far worse state than previously thought and signalled that Britain faces years of “pain” as the spending axe falls. The prime minister indicated a sharp downgrade in official growth forecasts and revealed that welfare and public sector pay would bear the brunt of budget cuts. It is understood that tough measures being considered to help control the £156 billion budget deficit include benefit freezes and cuts in child tax credits. There are also likely to be below-inflation pay rises for state employees on top of next year’s planned freeze. In an interview with The Sunday Times, Cameron said: “Proper statesmanship is taking the right action, explaining to people the purpose behind the pain.”

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