Cameron vows to shore up British economy

British Prime Minister David Cameron vowed Sunday to "cut through the dither" and breathe new life into the nation's recession-mired economy with a series of new initiatives.

With lawmakers returning to parliament on Monday after their summer break, Cameron also pledged that he would continue cutting debt amid the ongoing eurozone sovereign debt crisis.

"We will return (to parliament) this week with new goverenment bills for economic development," he wrote in the Mail on Sunday newspaper.

The premier said his Conservative-Liberal Democrat coalition government would put forward measures to boost growth by relaxing planning rules for new homes.

"A key part of recovery is building the houses our people need, but a familiar cry goes up. 'Yes we want more housing; but no to every development -- and not in my back yard'."

"Frankly, I am frustrated by the hoops you have to jump through to get anything done -- and I come back to parliament more determined than ever to cut through the dither that holds this country back," he said.

Britain remains mired in recession amid painful state austerity cuts and ongoing fallout from the debt crisis in the eurozone, a key trading partner.

"We're on a hard road to balancing Britain's books," Cameron said.

"I know that people look at our growth figures, hit by the eurozone crisis and the fallout from the financial crisis, and ask: is this worth it?

"But we have to remember the fundamental truth at the heart of this debate: you cannot borrow your way out of a debt crisis.

"Countries across Europe have found there's a tipping point where piling on more debt isn't just counter productive, it is lethal -- because you slam the brakes on growth."

Source: http://news.yahoo.com/cameron-vows-cut-dither-help-british-economy-003352429.html

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