LONDON – The UK’s new authorities unveils Friday multibillion-pound measures aimed toward supporting households and companies hit by decades-high inflation.
Finance Minister Kwasi Kwarteng, recent from being appointed by new Prime Minister Liz Truss, will ship his mini-budget at 0830 GMT.
Kwarteng introduced late Thursday he’ll scrap Truss’ predecessor Boris Johnson’s plan to hike taxes on salaries.
The information got here after the Financial institution of England warned that Britain was slipping into recession, as rocketing gas and meals costs take their toll.
Rising financial system
“Taxing our method to prosperity has by no means labored,” the Chancellor of the Exchequer stated.
“To boost residing requirements for …
Carry on studying: Britain unveils anti-inflation price range as recession looms