UK Osborne: Economic 'Healing' is Taking Longer than We Hoped
by Dow Jones Newswires
|Monday, October 08, 2012
BIRMINGHAM, England - The U.K. economy is "healing" but it is taking longer than hoped, U.K. Chancellor of the Exchequer George Osborne said Monday in a speech where he underscored the government's determination to stick to its austerity drive.
"The economy is healing, but that healing is taking longer than we hoped because the damage was greater than we feared," he said at the Conservative party's annual conference.
Mr. Osborne also said the government was consulting on a "generous" new tax regime for shale gas "so that Britain is not left behind as gas prices tumble on the other side of the Atlantic."
Copyright (c) 2013 Dow Jones & Company, Inc.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
More from this Author
Most Popular Articles