OECD tells Government to cut spending or face hardship for years to come

Telegraph
"In its annual survey of the British economy, the Paris-based institution told the Government to slash the size of its deficit far more than it currently intends or face major problems in the coming years. It came as the Bank for International Settlements (BIS) warned that cutting the record deficits caused by the crisis will be "the main task of policymakers for years to come". ...It came amid speculation that the Government has postponed the expected Spending Review this year, with Shadow Chancellor George Osborne speculating that this was intended to avoid spelling out inevitable post-election cuts.
He said: "This morning, Peter Mandelson and Alistair Darling could not even agree on whether there will be a spending review."Now, at lunchtime, the OECD says the Government has got to be more 'ambitious' and more 'explicit' about the need for spending cuts to deal with Labour's debt crisis."