DECRYPTION – Two months after the financial disaster caused by Liz Truss, it is a return to austerity without saying so for the British.
Correspondent in London
The budget announcements unveiled Thursday will condition the mandate of the new Prime Minister, Rishi Sunak, and must restore the credibility of the country, after the chaos sown by the ephemeral passage of Liz Truss and her unfunded tax giveaways. The potion is bitter, a mixture of tax increases and spending cuts. A return to austerity without saying so.
In order to clean up public spending, Finance Minister Jeremy Hunt unveiled an austerity budget before Parliament on Thursday with 25 billion pounds of tax increases and 30 billion pounds of spending cuts. Only the Health and Education budgets will increase. To reassure markets, Hunt touted a “balanced stability plan “. More than growth, the main priority is the fight against inflation, which jumped to 11.1% in October, a peak not seen in 41 years. She “ affects the poorest more. underlined the Chancellor of the Exchequer
This article is for subscribers only. You have 76% left to discover.
Black-Friday
-70% on digital subscription
Already subscribed? Login