Osborne says to stick to deficit reduction plan
DAVOS, Switzerland (Reuters) - Chancellor George Osborne knocked back suggestions on Thursday from the International Monetary Fund's chief economist that he should consider slowing his deficit reduction plan.
"I have been prepared to let the automatic stabilisers operate in the UK but I don't think it is right to abandon a credible deficit plan," Osborne said at an event in Davos, Switzerland hosted by broadcaster CNBC.
"That credibility is very hard won and easily lost and I think it would be a huge mistake to put that at risk."
Osborne also said he would make the case in a future referendum for Britain to remain in the European Union if it reformed.
"I'm arguing for reform in Europe and Britain being part of a reformed Europe. You can't ignore the growing gap between the governed and those who claim to govern," he said.
- Tweet this
- Share this
- Digg this
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.