Pound forecast to tumble on ‘insane’ spending cuts

Britain’s spending cuts have been branded as “absolutely insane” by one of the world’s leading currency traders, who expects the pound to tumble beyond the low it has set this year.

“I think what Britain is doing is absolutely insane” John Taylor, the founder of the $8bn FXConcepts fund, told The Sunday Telegraph. “The Conservatives will lose their stomach for this.”


Reducing Britain’s £156bn budget deficit is the cornerstone of the government’s plan for restoring the economy’s health. George Osborne, the Chancellor of the Exchequer, told Parliament last week that the £81bn in spending cuts would pull “Britain back from the brink… Regcure” 

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