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Jeremy Hunt raises taxes and cuts spending to restore market confidence in UK

Jeremy Hunt raises taxes and cuts spending to restore market confidence in UK

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UK economy in recession expected to contract in 2024 Nearly half of £55bn of belt-tightening due to tax hikes Budget watchdog sees 7% drop in living standards IFS think tank says most of the hit to come after 2024 The pound falls almost 1% against the dollar LONDON, Nov 17 (Reuters) – Britain’s Finance Minister …

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The British government will usher in a new era of austerity to restore market confidence

The British government will usher in a new era of austerity to restore market confidence

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Chancellor of the Exchequer Jeremy Hunt arrives at the rear entrance to Downing Street, London. Aaron Chown – Pa Images | Pa pictures | Getty Images LONDON — Britain’s new finance minister, Jeremy Hunt, is set to weigh the country’s economic peril against his party’s political survival on Thursday as he delivers a long-awaited budget …

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