British Prime Minister David Cameron on Thursday promised to stick to his deficit reduction plan despite a lack of economic growth and loss of his country's top-notch credit rating.

Britain's PM David Cameron attends and EU leaders summit to discuss the EU's long-term budget (Photo: reuters)

Cameron said Britain would plunge "into the abyss" if he changed course. He stressed that excessive government debt could harm the national economy, adding that what is most important at the moment is to maintain financial credibility to keep the interest rate low and reassure households and enterprises. Cameron’s statement followed a call by the coalition government for him to expand loans for infrastructure investment.