BBC NEWS David Cameron has warned an incoming Tory government will have to make "tough choices" on public spending.
And he said cutting public debt - not taxes - would be his top priority, in a keynote speech on the economy.
He criticised "quango fat cats" and said he would examine the system of tax credits - as some were reaching people earning more than £50,000 a year.
Labour says the Tories would cut spending, which would be "economic madness" in the middle of a recession.
In his speech Mr Cameron said a "credible strategy" to bring the public finances under control was essential for recovery.
The Tory leader, who ditched the Conservatives' commitment to match Labour's spending plans in the light of the economic downturn, stressed that fiscal responsibility had to have a "social conscience."
As official data suggested the UK's budget deficit had widened to £8.99bn in February, Mr Cameron said an incoming Conservative government would have to deal with "the worst set of public figures in our peacetime history".
He said without addressing public debt, confidence would be undermined and it could lead to a sharp increase in the cost of borrowing - meaning higher interest payments on mortgages and business loans.
"I am a Conservative who believes in lower taxes. But in today's fiscal circumstances, the priority must go to debt reduction," he said.
"Put simply, our overriding objective will need to change from sharing the proceeds of growth, to paying down our debt."
"I want to say clearly to the British people, there are going to be tough decisions, we will take those decisions as compassionate Conservatives, not hatchet faced accountants."
He said he would not "balance the budget on the backs of the poor" and said plans to reduce public debt would be "fair for all".
Some things would have to be cut - such as the planned ID card scheme and a database of children's details.
Or in other words we got you into the brown runny stuff but you will suffer for years to come because of it, while we carry on with our large salaries, pensions and expenses, while you will have to cut back on essentials, luxuries and basic living because we couldn’t do our jobs.
And he said cutting public debt - not taxes - would be his top priority, in a keynote speech on the economy.
He criticised "quango fat cats" and said he would examine the system of tax credits - as some were reaching people earning more than £50,000 a year.
Labour says the Tories would cut spending, which would be "economic madness" in the middle of a recession.
In his speech Mr Cameron said a "credible strategy" to bring the public finances under control was essential for recovery.
The Tory leader, who ditched the Conservatives' commitment to match Labour's spending plans in the light of the economic downturn, stressed that fiscal responsibility had to have a "social conscience."
As official data suggested the UK's budget deficit had widened to £8.99bn in February, Mr Cameron said an incoming Conservative government would have to deal with "the worst set of public figures in our peacetime history".
He said without addressing public debt, confidence would be undermined and it could lead to a sharp increase in the cost of borrowing - meaning higher interest payments on mortgages and business loans.
"I am a Conservative who believes in lower taxes. But in today's fiscal circumstances, the priority must go to debt reduction," he said.
"Put simply, our overriding objective will need to change from sharing the proceeds of growth, to paying down our debt."
"I want to say clearly to the British people, there are going to be tough decisions, we will take those decisions as compassionate Conservatives, not hatchet faced accountants."
He said he would not "balance the budget on the backs of the poor" and said plans to reduce public debt would be "fair for all".
Some things would have to be cut - such as the planned ID card scheme and a database of children's details.
Or in other words we got you into the brown runny stuff but you will suffer for years to come because of it, while we carry on with our large salaries, pensions and expenses, while you will have to cut back on essentials, luxuries and basic living because we couldn’t do our jobs.
Not much choice at the next election is there? Or maybe Cameron doesn’t want to be in power until “we” have put the country back on its feet.
“The reputation of a thousand years may be determined by the conduct of one hour.” Japanese Proverb
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1 comment:
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