Ex-Bank’s Lomax attacks government over cutbacks
A former deputy governor of the Bank of England on Tuesday accused Britain's coalition government of having "conjured up" a fiscal crisis that never existed in order to make a series of swingeing cutbacks to government spending.
George Osborne, Britain's chancellor of the exchequer, last month announced a series of cost-cutting measures for the next four years which will spark a retrenchment in government spending in all areas besides healthcare and cost hundreds of thousands of public-sector
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