Chancellor advised by IMF chief economist Olivier Blanchard, at Davos, that time has come to moderate austerity programmeGeorge Osborne has insisted he will press ahead with the government's austerity plans despite a warning from the International Monetary Fund saying the chancellor should slow the pace of cuts.Speaking on the eve of the latest GDP growth figures for the UK economy, the chancellor said the credibility Britain had built up by setting out a tough package of tax rises and spending plans had been "hard won, and easily lost", adding that it would be "a huge mistake to put that at ... Read More