Cameron returns UK to Thatcher style painful spending cuts

Prepare for years of pain:

Cameron warns spending cuts

'will affect our whole way of life'

The Prime Minister said the new administration would be trying

to 'take people with us' as it embarks on its programme of cuts.

Baroness Thatcher is expected in Downing Street to meet Mr Cameron.

25% Budget cuts

Economists fear many government departments face

budget cuts of 25 per cent, the steepest since the

Second World War.

The 'inevitably painful' cuts programme could be felt for decades

Benefit freezes, further cuts in child tax credits, privatisations and below-

inflation pay rises for public sector workers are all expected.

Europe's debt problems could spread after Hungarian officials signalled

last Friday that the nation was at risk of a Greek-style fiscal crisis.

source: dailymail.co.uk

Prepare for years

of pain, Cameron