Cameron said that the deficit is worse than expected

Prime Minister David Cameron told the British on Monday that the scale of the budget problems the country is even worse than we had anticipated, citing the Greek crisis as an example of the risks of inaction .
Cameron drew a bleak picture two weeks before the emergency budget presentation on 22 June, when his coalition government will give more details of a deficit-cutting measures amounting to 11 per cent of GDP.

Offering few details about where the cuts will be attacked by the previous Labour Government's economic mistakes of the past decade, he said, had left a legacy of debt crisis."Greece remains a warning of what happens to countries who lose credibility, or whose governments are difficult decisions that can be avoided somehow," he said in a speech at Milton Keynes in central England.
"I want to explain to the country ... why the global escalation of the problem is even worse than we thought," he said, adding that the structural nature of the debt meant that "a return to growth (economic) will not be resolved."

Cameron said the public sector had grown too with Labour. If no actions were taken in five years the cost to repair the debt will be higher than what is spent together in schools in England, climate change and transport.
"Based on the calculations of the last government, it is expected that in five years we will be paying interest on our debt is around £ 70,000 million (84,000 million euros). It is a simply amazing amount."