The Straits Times
Published on Dec 05, 2012

Britain extends austerity by year to 2017-2018


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.