Britain welcomes US financial regulation breakthrough but sticks by own austerity plans
By Jane Wardell, APFriday, June 25, 2010
Britain not swayed by Obama on austerity plans
HUNTSVILLE, Ontario — British Prime David Cameron has welcomed a U.S. breakthrough on tough new financial regulations but is sticking to his guns on Britain’s own plans to sharply curtail spending — despite President Barack Obama’s plea for continued economic stimulus.
A spokesman for the British leader said Friday that “like the U.S., the U.K. is taking serious steps” to reform its financial system. Cameron’s government this week unveiled an emergency budget that included higher taxes and the toughest cuts in public spending in decades.
The spokesman spoke to The Associated Press at an economic summit in Canada. He spoke on condition of anonymity as the matter had not yet been formally discussed.
Tags: Barack Obama, Canada, Europe, Huntsville, North America, Ontario, Summits, United Kingdom, United States, Western Europe
