Bloomberg View: Why Austerity in Britain Has Run Its Course

To boost growth, the Iron Chancellor needs to loosen his grip
U.K. Chancellor of the Exchequer George Osborne Photograph by Dan Kitwood/Getty Images

The bad news never stops for U.K. Chancellor of the Exchequer George Osborne. On Dec. 5, he had to announce that economic growth this year will fall below zero and the country’s debt will go on rising as a share of the economy even longer than he had pledged.

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