Lagarde: UK must cut deficit

[26 January 2012, CITY A.M.] On 26 January, Julian Harris writing on CITY A.M. reported that the British government has no choice but to continue with plans to reduce its annual deficit, the head of the International Monetary Fund (IMF) said last night. Former French finance minister Christine Lagarde recently recommended that some governments had scope to slow down austerity measures in the face of strong economic headwinds. But yesterday she stated that the UK is not one of them. “Those countries that have fiscal space and that can slow down their fiscal consolidation efforts are very few, and I’m afraid Britain is not in that particular group,” she told Channel 4 News. 

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