RPT-Cameron says UK must cut deficit now, U.S. can wait

WASHINGTON, July 20 (BestGrowthStock) – Prime Minister David
Cameron said on Tuesday there was no disagreement between
Britain and the United States on the importance of cutting
budget deficits, but the UK needed to act now to safeguard
investor confidence.

“We’re not a reserve currency, we’re not the United States
of America — we can’t take our time with this,” Cameron told
NPR radio before a meeting with U.S. President Barack Obama.

“We see it in the same way, which is that every country has
to deal with its budget deficit but the time at which we do it
can vary.”

Cameron said his Conservative-Liberal Democrat coalition’s
plan to slash government spending and raise taxes to rein in a
record budget deficit would enable Britain to “keep interest
rates low.”

The United States has urged caution over Europe’s efforts
to deal with soaring government borrowing because of concerns
that fiscal austerity could derail the global economic
recovery.

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(Reporting by Matt Falloon; Editing by Doina Chiacu)

RPT-Cameron says UK must cut deficit now, U.S. can wait