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London opens the budgetary floodgates to counter inflation and recession


The British Chancellor of the Exchequer Kwasi Kwarteng estimated Friday at 60 billion pounds (69 billion euros) for six months the cost for the government budget of the energy aid announced for individuals and businesses.

Based on recent prices (of energy on the markets) the total cost of the energy package for the six months from October is expected to be around £60bn“, in particular to freeze bills for households, announced Kwasi Kwarteng during a budget presentation to the British Parliament.

Kwasi Kwarteng notably announced on Friday the removal of limits inherited from the EU on City bonuses.

Finally, the Treasury aims to create 38 deregulated “investment” zones, resembling the free ports project of the previous Conservative government.

Kwasi Kwarteng also warned that the right to strike would be more framed and limited to cases where wage negotiations failed, after the previous government had already authorized the use of temporary workers to mitigate the impact of social movements.

SEE ALSO – Inflation: “It’s a tax that we will all pay”, says Macron



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