Meaning of “parsimony” in the English Dictionary

"parsimony" in Business English

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parsimonynoun [ U ]

uk /ˈpɑːsɪməni/ us /ˈpɑrsɪməʊni/ formal disapproving

unwillingness to spend money or to give things to people:

There is no excuse for such corporate parsimony over staff salaries.

The government has been parsimonious in its spending on the arts.

(Definition of “parsimony” from the Cambridge Business English Dictionary © Cambridge University Press)