Osborne is expected to urge cuts to the UK's public spending

10/4/2010 | Bloomberg

UK Chancellor George Osborne is poised to tell participants at the Conservative Party's annual conference that a reduction in public spending is needed to avoid a downgrade of the country's credit rating, an increase in interest rates and market turmoil. Osborne is expected to say that quickly tackling the budget deficit is necessary or the UK will face "economic instability".

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