Obama praises UK Budget as G20 plans cuts

The British Government’s decision to impose swift and deep spending cuts and tax increases to rein in Britain’s record deficit won international endorsement at the G20 summit in Canada.

A communique agreed by leaders of the world’s major economies acknowledged that countries with large budget deficits, like the UK, need to “accelerate the pace of consolidation” and welcomed the announcement of plans by countries including Britain to get their finances under control.