© 2020 – 2023 AEA3 WEB | AEAƎ United Kingdom News
AEA3 WEB | AEAƎ United Kingdom News
News

Biggest hit to living standards on record as Hunt lays out autumn statement

Austerity is pushed back until after the next election amid evidence of higher energy bills and a protracted recession

Britain faces the biggest hit to living standards on record as Jeremy Hunt set out £30bn of delayed spending cuts and £25bn of backdated tax increases in an autumn statement that laid bare the country’s dire economic predicament.

Underlining the fragility of the economy, the chancellor pushed back the fresh austerity measures until after the next election amid evidence that dearer energy bills and the highest inflation in four decades will cause a protracted recession, a jump in unemployment of 500,000 and a lost decade for living standards.

Continue reading…

Related posts

Swathes of England’s vital flood defences ‘almost useless’

AEA3

Rail strikes: city centres quieter as people heed advice to avoid travel

AEA3

Shadow cabinet MPs express Labour Brexit strategy doubts

AEA3

Pin It on Pinterest

Share This