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Osborne Says Relaxing U.K. Cuts Program Would Gamble Credibility

Chancellor of the Exchequer George Osborne said he will stick to his deficit-reduction program and not risk the backing of investors in order to spend money to help the economy. He was speaking to the Conservative Party conference in Manchester, England, today.

“We’d be abandoning the stability other nations crave,” Osborne said. “It’s an illusion that such sums would transform the economy. You can’t borrow your way out of debt.”