UK unveils austerity budget despite recession • FRANCE 24 English

Britain on Thursday unveiled an austerity budget with £55 billion ($65 billion) of tax hikes and spending cuts despite confirming its economy was in recession. Finance minister Jeremy Hunt confirmed the painful measures were needed to bring financial stability after recent turmoil, and insisted they would alleviate rather than aggravate the downturn. FRANCE 24's Bénédicte Paviot reports from London.
#UK #recession #austerity

[Kwippy]

There are two things that are most important to the British people: tax cuts, and immigration control. Which is why for the last 12 years Britain has voted for the Tories, and 6 years ago for Brexit. And indeed the Tories have delivered what the people want: tax cuts, and stronger border control. The price is destruction of the UK economy, and the destruction of their precious NHS. Yet for many Brits it's a price worth paying.

[NWOslave]

so labor could only demagogue instead of offering alternative solutions. always with the politics. sounds like the tory only care about satisfying their investor pals. should have cut taxes across the board and reduced the government budget where it can. france has shown nuclear power can be used so why are the brittish relying on foreign powers to provide energy? energy independence should be a national security issue.

[apollocreed]

Austerity was never really implemented. It was just a PR campaign by George Osborne to make lenders think that the UK was of good credit quality and not wasting their money. It worked very well because the pound GBP rose from 2010-2015 which is proof of an economy being seen as better quality relative to its peers. Then they announced the Brexit referendum and the pound went into constant free fall.

However, total spending was rising most of the time that Cameron and Osborne were in office.

Real austerity is actually a growth policy because by the government borrowing less, they leave funds available for the private sector to borrow to invest in business. It stops the situation of "crowding out."

[tiboregoldberger]

7 million pounds a day that's what the UK pays every day for the races to come into the UK 7 million pounds a day now it's 10 million pounds a day and the working classes pay and pay and pay now that will be 20 million pounds a day because they also have to pay the French now everyday millions of millions of pounds will go to the French every day from the hard-working taxpayers of UK that will pay and pay and pay $20 million pounds a day