George Osborne: It’s a whole lot worse in Cyprus
George Osborne dismissed his critics yesterday insisting: “It could be a lot worse.”
He said his “aspiration nation” Budget would help get the country back on the “right track”.
And he warned that a spending splurge funded by more Government borrowing – as demanded by Labour – could plunge Britain into a Cyprus-style debt crisis.
The Chancellor said: “It’s a difficult situation, but it could be a lot worse.
“You only have to watch your news bulletins to see other countries, not far from here, who have not confronted their problems and who are worried about getting money out of the bank.”