Osborne Says Credibility ‘Easily Lost’ as IMF Warns on Austerity
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U.K. Chancellor of the Exchequer George Osborne said there can be no letup in his budget-cutting program after the International Monetary Fund urged him to consider easing the pace of austerity if the recovery falters.
“Credibility is very hard won and easily lost and it would be a huge mistake to put that at risk,” Osborne said at an event today at the World Economic Forum annual meeting in Davos, Switzerland.