UK must press ahead with fiscal cuts: panel

The Houses of Parliament and Big Ben

Britain's coalition government must plough on with its fiscal austerity package or risk the wrath of financial markets, panellists at an event in London on Wednesday said.

George Osborne, Britain's chancellor of the exchequer, last October announced a series of cost-cutting measures, sparking a sharp retrenchment in government spending.

Fathom Consulting's Monetary Policy Forum panel, which included two former Bank of England deputy governors - Rachel Lomax and Sir John Gieve, said that the

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