Osborne to Cut Spending Further to Protect Budget Plan

British Chancellor George Osborne said on Sunday he would announce further cuts to public spending this week to protect his austerity plan from a weakening of the economy, but said they would not be drastic.

Osborne said the world was facing its most uncertain time since the 2008-2009 financial crisis due to China’s slowdown, the oil price fall, interest rate changes in some countries and political instability in the Middle East.

Reuters

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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.