Azernews.Az

Bloomberg

U.K. Prime Minister David Cameron said he can see “red warning lights” flashing “on the dashboard of the global economy,” arguing that trade deals and continued spending restraint are essential to growth.

In an article for today’s Guardian newspaper, the premier listed a possible recession in the euro area, a slowdown in emerging markets, the Ebola outbreak and conflicts in the Middle East and Ukraine as “adding a dangerous backdrop of instability and uncertainty.”

With just under six months to a general election that polls suggest is too close to call, Cameron offered voters reasons why any loss of momentum in the British economy isn’t the fault of his government and an argument that deficit reduction is the best strategy. His decision to write the piece may also be a hint that next month’s Autumn Statement to Parliament by Chancellor of the Exchequer George Osborne will see economic forecasts downgraded.

“We cannot insulate ourselves completely,” Cameron wrote. “It is more important than ever that we send a clear message to the world that Britain is not going to waver on dealing with its debts. This stability is vital in attracting the business and international investment that delivers growth and jobs, and which keeps long-term interest rates low.”

The prime minister attacked politicians who “offered easy answers, thinking we could spend, borrow and tax our way to prosperity.” His own commitment to deficit reduction has been called into question since he used his party conference speech last month to promise income-tax cuts if he’s re-elected.