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All Britons must help deal with debt, UK's Osborne says

Published on Dec 2, 2012 11:15 AM
 

LONDON (REUTERS) - British Finance Minister George Osborne said on Sunday all Britons should be prepared to make sacrifices to help shrink the country's debts, as he prepared to defend his faltering austerity plan in the coming days.

Mr Osborne is due to present his "Autumn statement" on Wednesday - the half-yearly budget update in which he may face the tough choice of either announcing more spending cuts or delaying his debt target.

He is expected to defend his stringent economic policies as the only credible way of solving the government's biggest political problem - its failure to deliver a strong recovery.

Writing in The Sun on Sunday newspaper, the chancellor of the Exchequer said all sectors of society needed to accept cuts or higher taxes.

 
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