There have been tough words from the British prime minister at the annual Conservative Party conference, where David Cameron defended his government’s economic policies.
“The threat to the world economy and to Britain is as serious as in 2008 when world recession loomed. The euro zone is in crisis, the French and the German economies have slowed to a standstill. Even mighty America is questioned about her debts. The only way out of a debt crisis is to deal with your debts.”
He also made clear his position on the euro currency saying: “Because we’re not in the euro, we can lay these foundations ourselves, on our own terms, in our own way. So let me say this: as long as I’m prime minister, this country will never join the euro.”
Some economists criticised his speech saying that it was not in the interest of the British economy that everyone pay off their debts, as what is really needed is for people to spend money to keep the economy moving.
The prime minister also pledged to stick to his guns over spending cuts, despite recent protests and the threat of a general strike over pension reform next month.