Now even Goldman Sachs tells Osborne to find a Plan B – UK Politics – UK – The Independent

George Osborne was urged last night to rethink his deficit-reduction programme by a chorus of economic experts from across the political spectrum as the UK teetered on the verge of a triple-dip recession.

Britain moved a step closer to losing its AAA credit rating with new figures revealing the economy did not grow at all over 2012 – prompting experts who had previously backed the Chancellor’s austerity measures to urge a change of course. Yesterday’s worse-than-expected GDP figures showed the British economy actually contracted by 0.3 per cent in the final quarter of last year.

Jim O’Neill, chairman of Goldman Sachs Asset Management, said the contraction showed that “policy has been on the wrong path” and that fiscal policy had been “tightened too much” by the Chancellor.

Now even Goldman Sachs tells Osborne to find a Plan B – UK Politics – UK – The Independent.

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