UK budget deficit soars ... and drastic action's needed

The UK recorded an all time high budget deficit of almost £90,000,000,000 in 2008/09, and with the deteriorating state of UK public finances, the Centre for Business and Economic Research (CEBR) today highlighted the need for a £100bn programme of cuts and tax rises to repair the UK's public finances and get the UK's budget deficit back down to £50bn by 2014/15.