Nick Clegg defended Spending Review at economic summit

The spending cuts had to be implemented to secure economic sovereignty announced Nick Clegg at the Davos economic summit. Despite the contraction of the economy, plans made by the government will stay on course. The plans outlined in the government's Spending Review were not a "gamble", according to a speech made to the World Economic Forum by the Deputy Prime Minister yesterday. Nick Clegg said the deficit reduction plan was "measured" adding that program of cuts would take place over the course of the next four and a half years.