UK finance minister announces tax hikes and spending cuts, says country is in recession

UK finance minister announces tax hikes and spending cuts, says country is in recession
The U.K. government on Thursday unveiled a sweeping fiscal plan aimed at plugging a gaping hole the public finances and restoring Britain's economic credibility.

Finance Minister Jeremy Hunt, in his hotly anticipated inaugural Autumn Statement, outlined spending cuts and tax hikes worth £55 billion.

The measures will increase financial hardship on millions of Britons as they confront the country's worst cost-of-living crisis in decades and its longest-ever recession.

https://www.cnbc.com/2022/11/17/uk-finance-minister-announces-tax-hikes-and-spending-cuts-says-country-is-in-recession.html

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