18 Jun 2010

Labour spending cancelled by UK govt

8:07 am on 18 June 2010

The British coalition government has cancelled 12 projects agreed to by the previous government, worth about two billion pounds.

Another 8.5 billion pounds worth of projects have been suspended or referred for reconsideration after a review of 217 projects worth 34 billion.

Treasury Chief Secretary Danny Alexander says the cuts are necessary to tackle the budget deficit.

He told Parliament that Labour went on a pre-election spending spree in the full knowledge that it had long since run out of money.