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UK Chancellor to Announce Spending Cuts Amidst Growth Downgrade
The UK Chancellor will announce a downgrade to economic growth forecasts and billions of pounds in spending cuts next week, despite pre-election promises to avoid austerity, due to a significant shift in the account balance from a £9.9bn surplus to a projected £4.4bn deficit.
UK Chancellor to Announce Spending Cuts Amidst Growth Downgrade
The UK Chancellor will announce a downgrade to economic growth forecasts and billions of pounds in spending cuts next week, despite pre-election promises to avoid austerity, due to a significant shift in the account balance from a £9.9bn surplus to a projected £4.4bn deficit.
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