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11/9/10

IMF says UK spending cuts will be tough to deliver  - by Peter Griffiths

The government's plans for deep public spending cuts to help wipe out a record deficit will be tough to implement and could strain services, the International Monetary Fund said on Tuesday. Skip related content

In an update to its annual health-check of the UK economy, the IMF said the government must keep a close eye on how the cuts hit the most vulnerable people in society. Chancellor George Osborne set out plans last month to cut spending by 80 billion pounds to help bring down a budget deficit of 11 percent of GDP.

Half a million public sector jobs are expected to be lost, the retirement age will rise and welfare payments will be slashed as part of the austerity package.

For more: IMF says UK spending cuts will be tough to deliver - Yahoo! News UK

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