OECD to George Osborne - Spread the Pain of Public Spending Cuts

George Osborne should spread the pain of tough public spending cuts beyond the next two years, according to the OECD in a critique of the chancellor’s debt consolidation strategy.
The Paris-based thinktank said in its latest economic forecast that delaying some of the severe cuts planned by Osborne for the financial years 2015-16 and 2016-17 would “lower the impact on growth”.
The report, which downgraded the UK’s growth forecast and predicted a muted global recovery this year and next, follows an in-depth examination by the International Monetary Fund (IMF) that took an even stronger stance, arguing that countries such as Britain should abandon debt reduction as a key target.



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