UK to Move Ahead With Spending Cuts

Despite fears of weakening the economy, the upcoming budget by British Treasury Minister George Osborne is expected to contain details on how the government intends to reduce spending.

“The big squeeze is still coming,” warned Roger Bootle, economic adviser to Deloitte. “There is still a political motivation to press ahead with the spending cuts while they can be most readily blamed on the previous administration.”

Source: The Canadian Press

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at Visit to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.