LONDON – Tens of thousands of demonstrators descended on the British capital Saturday in a noisy but peaceful protest at a government austerity drive aimed at slashing the nation's debt.

Unions, anti-war campaigners, left-wing leaders, community groups and other activists poured down London's streets in a demonstration against reductions to public sector spending which officials are pushing through in order to rein in the Britain's debt, which stands at more than 1 trillion pounds ($1.7 trillion).

Although the austerity program has had some modest successes – the country's deficit has dropped slightly – the U.K. economy has shrunk for three consecutive quarters amid cuts at home and economic turmoil on the continent.