UK's Treasury chief says austerity isn't over
LONDON -- British Treasury chief George Osborne has delivered the bad news that the government's austerity will continue even though the economy is growing faster than predicted.
Osborne told the House of Commons in his budget statement Wednesday that higher growth would not be enough to heal the country's public finances.
Citing independent figures from the Office of Budget Responsibility, he said the U.K. economy should grow 2.7 percent this year. That's up on the 2.4 percent prediction last autumn and makes the U.K. the fastest-growing among the top 7 industrial economies.
He says that... read more
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