UK budget focuses on wiping out huge deficit

More and higher taxes, spending cuts, pay freezes part of package

Beijing - Recovery from the economic crisis will likely slow with the introduction of the United Kingdom's new emergency budget that aims at less spending and more taxation, Chinese analysts say.

The UK's new chancellor of the exchequer George Osborne on Tuesday announced a series of tough detailed measures designed to nearly eliminate a record budget deficit of 149 billion pounds ($222 billion) - 11 percent of the gross domestic product - within five years. France and Germany also showed commitment in battling their deficits.