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George Osborne wary of union fight back

As George Osborne gets ready to deliver the most severe UK budget in 30 years, the UK government is ever more aware that unions are waiting on the sidelines looking for an excuse to ballot members for strike action. As a consequence there will inevitably be more strikes in the second half of 2010 as David Cameron and George Osborne look to push through the £60 billion in cost savings. But can the government appease the unions and also reduce the budget deficit?

Despite the fact that Gordon Brown was a union man through and through from his Labour Party roots he was also on the end of some severe action from the unions. David Cameron is from the other end of the political spectrum and is despised by many union leaders as the face of the modern day Tory party. He will have his work cut out to keep the unions happy while also attempting to tackle the UK budget deficit.

However, in the short term there is a real threat of the UK's AAA credit rating being downgraded which would not only reduce the attractions of the UK for investment purposes but would also increase interest payments on existing and future sovereign debt. David Cameron is stuck between a rock and a hard place!

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