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Moodys: Osborne wont balance until 2019

George Osborne will struggle to balance the books by 2019, according to Moody’s.

As summarised by The Week, the chancellor’s commitment to post a budget surplus is unlikely to be met be the end of the decade, because of the scale of cuts required and the likelihood that the easiest reductions have now been made, says the ratings organisation. It also said Britain’s credit rating could be downgraded if it voted to leave the European Union[1].

[1] The Business, http://www.theweek.co.uk/