Saturday, February 24, 2024

Britain’s finance minister to deliver first budget under Brexit shadow


Britain’s finance minister Philip Hammond will say later today he will not relax his grip on the public purse, despite the economy withstanding the initial Brexit shock, as the challenge of actually leaving the European Union approaches.

Hammond is due to announce at 1230 GMT the first full budget statement since the referendum decision to take Britain out of the bloc, which had been expected to deliver a quick, sharp economic blow to Britain.

Instead, consumers carried on spending heavily and made Britain the second-fastest growing economy in the Group of Seven rich nations in 2016.

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