British budget extends austerity, cuts growth outlook

Britain unleashed more austerity on Wednesday in its latest annual budget and cut its growth outlook, blaming the impact of global markets turbulence rooted in China. Finance minister George Osborne also warned that a potential 'Brexit', or departure from the European Union, would risk damaging the nation's economic recovery, ahead of a key referendum in June. Chancellor of the Exchequer Osborne said the government would seek additional spending cuts totalling £3.5 billion ($5.0 billion, 4