LONDON - MAY 24: David Laws, U.K. chief treasury secretary, right, and George Osborne, U.K. chancellor of the exchequer, pause during a press conference at H.M.Treasury on May 24, 2010 in London, England. British Prime Minister David Cameron's two-week old coalition is taking its first steps to curb a record peacetime budget deficit today by announcing 6 billion pounds ($8.7 billion) of spending cuts. (Photo by Rupert Hartley - Pool/Getty Images)
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