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On Wednesday British Prime Minister David Cameron, fresh off his visit to Washington last week, released his latest budget proposal, which cuts the tax rate of the wealthiest citizens.
One economist warns “the vast majority” of cuts in public spending lie ahead.
Cameron is Britain’s first conservative prime minister since 1997 and he’s made shrinking government spending a top priority. But Britain’s economy hasn’t responded. Instead, it’s been stagnant.
Beth Gardiner, an American freelance reporter for the International Herald Tribune, says women especially are starting to feel the pain of the cuts in government spending, and Britons are beginning to look across the pond, wondering if there are any lessons from U.S. stimulus spending.