UK PRESS: The Chancellor must find another stg 10 billion in spending
cuts and tax rises if he is to keep his promise to halve Britain’s
deficit, according to leading economists, the Times reports. Consumer
spending – on which the Treasury is banking to power growth – is likely
to remain weak for years to come, according to new reports by the CBI
and Ernst & Young ITEM Club, the economic forecaster. Peter Spencer,
chief adviser of the ITEM Club, said: “If the Chancellor is
realistically going to get the public finances back on track, a
credible, detailed and more aggressive plan must be in place,” the paper