Britain becomes latest to slash budget, freeze salaries

Wednesday - 6/23/2010, 11:29am EDT

Britain announced a far-reaching deficit-reduction plan Tuesday aimed at saving billions of dollars over the next five years, becoming the latest European nation to slash spending amid increased worries about rising public-sector debt. The Washington Post reports that the move comes despite a plea last week from President Obama for the Group of 20 governments to hold back on fiscal tightening until the global economic recovery strengthens. Leaders from the G-20 are scheduled to meet in Toronto this weekend, and the talks are expected to highlight growing differences between the United States and Europe over the timing of budget cuts.

These stories are part of our daily Dorobek Must Reads. Check out the full list of stories.