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Osborne to Cut Spending Further to Protect Budget Plan

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British Chancellor George Osborne said on Sunday he would announce further cuts to public spending this week to protect his austerity plan from a weakening of the economy, but said they would not be drastic.

Osborne said the world was facing its most uncertain time since the 2008-2009 financial crisis due to China’s slowdown, the oil price fall, interest rate changes in some countries and political instability in the Middle East.

Reuters

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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