United Kingdom

U.K. Chancellor of the Exchequer George Osborne was due to present his budget to the House of Commons on Wednesday (March 23). Osborne was expected to reaffirm his commitment to Britain’s austerity plan that seeks to save some 111 billion pounds ($180 billion) by 2015 through fiscal-tightening measures, The Wall Street Journal reports.

It would be “a huge mistake” for the U.K. government to ease its spending cuts, Osborne said, arguing that the cuts had stabilized the economy. Osborne will announce the Office for Budget Responsibility’s latest forecasts for economic growth this year in his second budget, BBC reports.

About the author

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    Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.