The British Government Is Ushering In A New Era Of Austerity In A Bid To Restore Market Confidence
Aaron Chown – Pa Images | Pa Images | Getty Images LONDON — Britain’s new Chancellor of the Exchequer Jeremy Hunt must weigh the country’s economic risk against his party’s political survival on Thursday as he delivers a long-awaited budget statement. Hunt is expected to announce tax increases and spending cuts totaling between 50 billion pounds ($58.85 billion) and 60 billion pounds a year as he tries to plug a major hole in the country’s public finances while reassuring the market about its fiscal credibility after chaos....