Budget 2010: Deficit will be halved in four years
Chancellor to stick tp plan
The chancellor has confirmed that he will stick to the plan to reduce the
deficit by half over the next four years. The deficit currently stands at
£178bn. The pre Budget report last year forecast that revenues of £498bn would
be raised in taxes in 2009. Government spending was forecast to be £676bn.
The economy has contracted by 6% during the recession.