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EU austerity bite off: Osborne plows on

This week, the OECD revealed a downgraded growth forecast for the UK, but suggested George Osborne was right to pursue his campaign of spending cuts.

The think tank appeared to contradict itself as it warned cuts could hamper consumer and business confidence, and stem growth, but also said further fiscal consolidation is necessary to restore sustainability in public finances.

As the European Commission eases up on the austerity demands, and allow certain countries longer to reduce their spending, is it right for the UK to continue cuts?

The OECD’s own global Economic Outlook report suggests strengthening, but in an uneven manner. Will the UK be disadvantaged if the cuts continue amid an uneven landscape?

This was posted in Bdaily's Members' News section by Tom Keighley .