Can the new UK government stabilise the economy? | Politics

November 17, 2022 0 By Cypher9ja

From: Inside Story

Finance minister announces tax hikes and spending cuts to curb inflation.

The British government says it is making difficult decisions to control a spiralling cost of living crisis.

Millions of people are already struggling to pay their food and energy bills before winter.

Inflation has hit 11.1 percent, the highest level in 41 years.

Charities say more people are asking for help.

The previous prime minister, Liz Truss, resigned in September after her finance minister announced $53bn in unfunded tax cuts.

The current government, under Prime Minister Rishi Sunak, is raising taxes and cutting public spending instead.

But will the budget plan be enough to ease the economic pain?

Presenter: Hashem Ahelbarra

Guests:

Patrick Diamond – Professor in public policy, Queen Mary University of London

Alfie Stirling – Director of research, New Economics Foundation

Max Lawson – Head of inequality policy, Oxfam International