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Is the UK budget deficit under control?

The UK budget deficit is more under control than many people had assumed just a few weeks ago and a far cry from the 12% of gross domestic product which is the Greek budget deficit. The UK figure for 2009/10 was in the region of 10% of gross domestic product and while the situation is still very difficult to say the least the UK does not have the worst budget deficit in Europe.

When you also take into account David Cameron's target of saving £6 billion in public sector spending this year there is perhaps hope for the future. The UK economy is in a very different situation to that of Spain, Portugal and Ireland for example which are all under pressure from the European Union to reduce their deficits as part of a plan to protect the Euro. The UK has refused so far to join the Euro and while it would be wrong to say there has been no pressure from the EU, it's been nowhere near the level experienced by the likes of Greece, Spain, Portugal and Ireland.

Only a few weeks ago the UK was being ridiculed by many EU partners with regards to the growing budget deficit but since then there has been more positive news in the UK and more negative news in Europe.

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