Governments should avoid Covid spending cuts and tax rises, says OECD

In report on global economy, thinktank suggests extra borrowing is needed into 2021

Governments must resist imposing spending cuts and hefty tax rises before their economies have recovered from the effects of coronavirus lockdowns, a leading global thinktank has warned.

In its quarterly health check of the global economy, the Organisation for Economic Co-operation and Development (OECD) said it would be necessary to continue borrowing extra funds into next year to support the worst-hit households and businesses despite concerns about mounting public sector debts.

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