Page last updated at 10:00 GMT, Sunday, 5 July 2009 11:00 UK

'We have never seen anything like this'


Former prime minister Sir John Major has outlined his concerns about the UK economy's level of debt.

"We have never seen anything like this, in your lifetime or mine", he told the BBC's Andrew Marr.

Whichever political party comes to power will have to address the state of the public finances, he said.

He stressed that a deficit of £180bn was not sustainable and recommended down-sizing the government machine, saying it could easily be cut in size by a third.


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