Does Austerity Threaten The United Kingdom?

The Chancellor may have to extend the sqeeze on public spending if the recent deterioration in growth prospects and tax recipts turn out to be permanent. The Institution for Fiscal Studies said George Osborne may have to find another £11bn from tax rises or spending cuts if the economy doesn’t pick up, this is on top of the already £8 bn in cuts already placed in the current budget.

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