Calls for G7 spending restraint misguided, warns Lord Stern

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‘Premature austerity will threaten growth’ as world recovers from Covid-19, says climate economist

Wealthy nations must ignore calls to rein in public spending as the economic recovery from the Covid-19 pandemic gathers pace, or risk a fresh crisis, the climate economist Nicholas Stern has warned.

Leaders of the G7 industrialised countries are meeting in Cornwall this weekend, to discuss vaccines, the recovery from the pandemic, and the climate crisis.

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