PM says Britain must reduce its deficit despite Obama warning

BRITAIN needs to move quickly to reduce its budget deficit despite US President Barack Obama’s warning about the perils of withdrawing economic stimulus too soon, Prime Minister David Cameron’s spokesman said yesterday.

“For some countries, such as our own, there is a need to get on and deal with the deficit more quickly,” he said.

Tackling the deficit effectively was essential to maintaining confidence in public finances, which would in turn underpin economic growth in the future, the spokesman said.

In his letter to G20 colleagues ahead of a summit in Canada this week, Obama said the highest priority must be to safeguard and strengthen the recovery.