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Britain extends austerity by year to 2017-2018

Published on Dec 5, 2012 9:22 PM

LONDON (AFP) - British finance minister George Osborne announced on Wednesday that he was extending austerity measures for an additional year until 2017-2018.

Mr Osborne also warned of a longer-than-expected battle against debt, saying it would take a year longer than forecast to meet its official target for reducing public debt as a proportion of economic output, with a new target of 2016-2017.