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More austerity for Britain, IFS warns Osborne

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More austerity for Britain, IFS warns Osborne

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The Institute for Fiscal Studies says British Chancellor of the Exchequer George Osborne may have to extend his austerity policies until 2018 after British economic prospects deteriorated.

The IFS says Osborne faces slashing a further 13.5 billion euros from the welfare budget on top of the 9.8 billion already under discussion.

Osborne has been told that even under an “optimistic outlook” debt will continue to rise as a share of GDP.