Britain to unveil budget this week

LONDON: British Prime Minister David Cameron’s government will this week unveil the first Conservative budget in almost 20 years, targeting deep welfare cutbacks to honour a campaign pledge to slash spending.
Finance minister George Osborne, boosted by a surprise May 7 vote giving his centre-right Conservative Party an outright majority, will present his latest spending and taxation plans before parliament on Wednesday.
Osborne will have a free hand with public finances after five years of coalition with the centrist Liberal Democrats, while the summer budget comes amid mounting global concern over the debt crisis in anti-austerity Greece.