The tens of billions of pounds “mini-budget” announced by the British government at the end of September has led to a crisis in the United Kingdom.
New Finance Minister Jeremy Hunt announced on Monday the cancellation of “almost all tax measures» announced three weeks ago by his predecessor Kwasi Kwarteng and which had plunged the British markets into turmoil.
Jeremy Hunt, urgently appointed on Friday, insisted that the British government’s priority was to restore “stability“. Among the main measures unveiled on Monday, the ceiling on energy bills for all households will finally be in force until April only and no longer for two years. “Other tough decisionsare coming for government spending like taxes, he added.
These measures will allow the government to raise about 32 billion pounds (36.2 billion dollars) per year.
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