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The Daily Telegraph - United Kingdom | Friday, April 27, 2012

Boost growth in the UK

After the British government officially slipped back into a recession on Wednesday the conservative Daily Telegraph calls for a more aggressive growth strategy: "The austerity programme does command the confidence of the markets, and that remains crucial. It is this that allows the Government to borrow at attractive rates, which in turn gives the Bank of England the freedom to keep the cost of borrowing low. It would be madness to jeopardise that during such a hesitant recovery. That does not mean the Chancellor should simply be sitting tight and waiting for lift-off. We have argued consistently for a more aggressive growth strategy involving targeted tax breaks and a serious assault on red tape to help instil business confidence. If companies - especially large corporations - started investing the cash they are hoarding, and banks began to lend again, it would do much to stimulate recovery. Mr Osborne must continue to focus all his energies on creating an economic climate in which they feel able to do so."

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