U.K. Leadership Has Faith in Austerity

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BY CASSELL BRYAN-LOW AND CHARLES FORELLE
LONDON—The British economy has barely grown in three years and the country last month lost its prized triple-A credit rating from Moody’s Investors Service, prompting increasing calls for a change in economic policy. But when U.K. Treasury chief George Osborne announces his annual budget Wednesday, he is expected to give a clear message: Stay the course.
Since taking office in 2010, Mr. Osborne and Prime Minister David Cameron, both Conservatives, have made a bold gamble on government-spending cuts, saying they are essential to keeping Britain from the fate of Greece and other euro-zone governments forced into painful rescues after economic …
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