How will spending cuts affect your way of life?
Prime Minister David Cameron has said "painful" cuts to tackle the deficit would affect "our whole way of life" but also strengthen the country. What is your reaction?
The PM said the UK's economic problems are "even worse" than previously thought. He said figures which the Labour government refused to publish showed the UK would be paying £70bn in debt interest by 2015.
His Lib Dem deputy, Nick Clegg, told the Observer the cuts would not mean a "repeat of the 1980s", adding: "We're going to do this differently." But Labour has argued that cuts too soon could jeopardise the economic recovery.
How are you planning to cope with action to cut the deficit? Have you already made changes to your lifestyle? How will these cuts affect Britain's way of life?
This debate has now closed. Thank you for your comments.