Britain's decade of austerity is over: May

British Prime Minister Theresa May says a decade after the global financial crash, her government's austerity push is over.

British Prime Minister Theresa May has declared her government's austerity push is over after nearly a decade of spending cuts in many areas of public services.

"We are not just a party to clean up a mess, we are the party to steer a course to a better future," May said in a speech to her Conservative Party's annual conference on Wednesday.

"A decade after the financial crash, people need to know that the austerity it led to is over and that their hard work has paid off."

May said the government's new multi-year spending plan due next year would continue to bring down debt levels but would see support for public services go up.

Britain's budget deficit has been cut from nearly 10 per cent of gross domestic product in 2010 to around 2 per cent.

May's finance minister Philip Hammond has said Britain's public debt levels remain too high at more than 84 per cent of GDP and he has vowed to bring down that ratio each year.


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Source: AAP



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