Osborne delivers kill or cure Budget

In an emergency budget designed to seize control of public finances strained by the biggest financial crisis in decades, the United Kingdom's Chancellor of the Exchequer (Finance Minister), George Osborne, outlined on the 22 June 2010 cuts for most government departments of 25% by 2014-15. This represents one of the most drastic spending squeezes in any advanced economy in recent times.

The painful budget was aimed to almost wipe out the UK's record budget deficit of £149bn to almost nothing within five years.

United Kingdom: HM Treasury: Budget: 2010 budget http://www.hm-treasury.gov.uk/2010_june_budget.htm

BBC News, 22.6.10: UK Emergency Budget 2010 http://news.bbc.co.uk/1/hi/in_depth/business/2010/emergency_budget

Deutsche Welle, 22.6.10: New British government plans to wipe out record deficit in five years http://www.dw-world.de/dw/article/0,,5720740,00.html

France24, 22.6.10: UK finance minister delivers toughest budget in decades http://www.france24.com/en/20100622-uk-finance-minister-delivers-tough-budget-osborne-deficit

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