UK Chancellor Unveils £14 Billion Package to Fix Battered Budget
March 29, 2025
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0:55Now PlayingUK Chancellor Unveils £14 Billion Package to Fix Battered Budget
YouTube Description
as posted by the channelUK Chancellor of the Exchequer Rachel Reeves announced a package of politically divisive cuts to welfare and government spending to fill a hole in the country’s finances after this year’s growth forecast was cut in half.
The Labour government was forced to turn to cuts as weak growth and rising borrowing costs had put Reeves on course to break a budget rule that she uses to reassure the markets of her fiscal prudence. The chancellor had ruled out further tax rises after £40 billion ($51.5 billion) of extra levies in October’s budget infuriated British businesses.
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