I’ll be seeing you again
I’ll be seeing you in hell
by traders in London
UK chancellor Alistair Darling on Wednesday outlined the first steps in the drive to cut Britain’s massive budget deficit, raising taxes on middle-income earners, raiding City bonuses and imposing deep cuts across much of Whitehall. Darling said middle income earners would have to pay higher national insurance contributions but emphasised the ring-fencing of budgets for health, schools and police, even as he conceded that other spending will face cuts in cash budgets for at least three years from 2011 and real term cuts of over 10% in the period.
