George Osborne, Architect of U.K. Austerity, Says New Cuts Needed Post-Crisis

The architect of the controversial austerity drive in Britain after the financial crisis said another period of belt-tightening will eventually be needed to deal with the fiscal damage wrought by the coronavirus shock.

George Osborne, who was chancellor of the exchequer from 2010 to 2016, said Boris Johnson’s government is right to be spending now to avert an economic catastrophe but cautioned that the additional debt created will ultimately have to be tackled.