Osborne warns on eurozone slowdown

p1676UK-News-4-1

Published: Thursday 9th October 2014 by The News Editor

Comments (0)

Britain cannot be “immune” from the worsening economic outlook in the eurozone, Chancellor George Osborne has warned.

After the International Monetary Fund downgraded its growth forecasts for the three largest eurozone economies – Germany, France and Italy – Mr Osborne said the UK economy was facing a “critical moment”.

Speaking ahead of talks at the IMF in Washington, he said that with the risk of the eurozone falling back into crisis, there could be no relaxation of the Government’s austerity policies.

“This is a critical moment for the British economy. The eurozone risks slipping back into crisis. Britain cannot be immune from that. It’s already having an impact on our manufacturing and our exports,” Mr Osborne told BBC News.

“We need to send clear message out around the world that we have a stable economy, that our economic plan is working, and that we are not going to deviate from that economic plan so that people around the world know that, while Britain is not immune from what is going on the world, we can take steps to protect ourselves.”

Published: Thursday 9th October 2014 by The News Editor

Comments (0)

Local business search