UK Chancellor Rules Out Change To Austerity Plan

UK Chancellor of the Exchequer George Osborne has ruled out changing to a new fiscal plan in his upcoming Mar 23 2011-12 Budget, saying that the stability of the economy remains the government’s top priority. In an interview with Sky News, Osborne said that “markets would crash, our credit rating would be downgraded and interest rates would rocket” if the government announced that it was abandoning its program of cuts to borrowing. – iMarketNews

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