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David Cameron readies UK public for massive change in finances

Over the last few days we have seen a massive charm offensive by the UK government in relation to the UK financial position and the expected explosion of public sector investment cuts in the short to medium term. We are seeing all of the figures revealed into the public domain and there is no doubt that the UK government is making the situation look "as bad as possible". So why is David Cameron doing this?

Ahead of the first coalition government budget on 22 June, with potentially a further budget to come later in the year, many believe that the UK authorities are readying the UK public for a worst-case nightmare scenario. A number of prominent experts believe this will give David Cameron some leeway to deliver public-sector spending cuts at a lower level than the "nightmare situation" currently being portrayed in the UK media.

Whether this is the case or not remains to be seen but whatever happens the UK budget deficit needs to be addressed sooner rather than later. There is growing concern that the UK may well lose its gold-plated AAA rating from credit rating agencies which will further increase interest charges - which are already expected to peak at over £70 billion a year over the next five years.

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