Prime Minister David Cameron has suggested that cuts to public spending will have to carry on for years in order to secure the British economic recovery.
The Prime Minister has issued the warning following the announcement that Japan, the world’s third largest economy, has slipped back into recession. David Cameron has already written an article for The Guardian this week, in which he claimed the “red warning lights” are flashing on the global economy – a warning underlined by stuttering economic growth in the Eurozone. Official forecasts in the Chancellor of the Exchequer’s autumn statement, which will take place on 3 December, are expected to show the Coalition’s efforts to address the UK budget deficit have stalled, further demonstrating that additional cuts to public spending will be required.
The Prime Minister’s statements have been interpreted as an effort by the Conservatives to warn the electorate that the period of austerity is not yet complete. Labour leader Ed Miliband has accused David Cameron of ‘getting excuses in early’ ahead of the Chancellor’s autumn statement.