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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/01/cameron-we-must-see-cuts-through.jpg"><img class="alignnone size-full" title="David Cameron insisted the decision to make sharp cuts in spending to pay down the deficit was right and 'we have to see it through'" src="http://londonglossy.com/wp-content/uploads/2011/01/min-cameron-we-must-see-cuts-through.jpg" alt="David Cameron insisted the decision to make sharp cuts in spending to pay down the deficit was right and 'we have to see it through'"/></a></p>
<p>Prime Minister David Cameron has vowed he will not change course on the economy, insisting that the Government&#8217;s decision to make sharp cuts in spending to pay down the deficit was right and &#8220;we have to see it through&#8221;.</p>
<p>Mr Cameron has come under intense pressure to draw up an economic &#8220;Plan B&#8221; amid fears that his austerity measures are driving Britain into &#8220;double-dip&#8221; recession, after the latest GDP figures showed the economy shrank by 0.5% in the last quarter of 2010.</p>
<p>He acknowledged that 2011 will be a &#8220;difficult and painful&#8221; year, but insisted he will stay the course, warning that scaling back cuts would undermine the confidence of the markets.</p>
<p>But he held out the prospect of assistance for motorists, giving his strongest hint yet that the March 23 Budget may include a &#8220;fair fuel stabiliser&#8221; to soften the impact of petrol price rises by cutting duties as the cost of oil goes up.</p>
<p>Mr Cameron told BBC1&#8217;s Breakfast: &#8220;I won&#8217;t hide from people that this is going to be a difficult year but I think we just have to keep on explaining&#8230; that if you don&#8217;t deal with your debt and your deficit, you can end up like Greece or Ireland &#8211; in a real mess.</p>
<p>&#8220;We mustn&#8217;t do that, so we have to go through this difficult year. The Opposition is suggesting an alternative. I just happen to think they are wrong.</p>
<p>&#8220;If we suddenly said &#8216;We are going to tear up our Budget plans, we are going to turn the taps of Government spending back on again, we are not going to care about the deficit&#8217;, I think the rest of the world would say &#8216;How can I have confidence in Britain if they are not going to pay down their debts?&#8217;</p>
<p>&#8220;There are always people suggesting alternatives, but I think our course is the right one and we have to see it through.&#8221;</p>
<p>On petrol prices, which have hit record highs of around £1.30 a litre as a result of increases in the global cost of oil and this month&#8217;s hike in VAT to 20%, Mr Cameron said: &#8220;What we are trying to do is have a system where, when the oil price goes up, we share the difficulty of that with the motorist. I think that&#8217;s fair. That&#8217;s what we are going to try to do.&#8221;</p>
<p>Chancellor George Osborne hinted last week that he was considering scrapping a 1p rise in fuel duty scheduled for April, but Mr Cameron did not refer to this option.</p>
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