British finance minister sticks to tax-hiking plans, pledges post-Brexit reforms
Jeremy Hunt gave a speech Friday to lay out plans for economic growth in the U.K.LONDON — British Finance Minister Jeremy Hunt on Friday signaled he is pushing ahead with tax hikes, while stressing the need to develop Brexit into a "catalyst" for U.K. growth. "The best tax cut right now is a cut in inflation," Hunt said in a speech addressed to tech giants, including Amazon, Google and Meta, as he looks to dispel economic "gloom" in the U.K. Optimism in the U.K. economy has been in "short supply" in recent months, Hunt said. Hunt told companies that they were important for the U.K. outlook, but added that "Britain is vital for your future too" and asked for their help to make the country "the world's next Silicon Valley."cnbc.com
UK Treasury chief in position of power as PM Truss struggles
As British Prime Minister Liz Truss struggles to retain her authority, one man is seen to be in the real position of power to restore order and credibility to the Conservative government and limit the damage caused by Truss’ economic plans.
New UK Treasury chief: Mistakes were made, tax rises coming
Britain’s new Treasury chief has acknowledged mistakes made by his predecessor and suggested that he may reverse much of Conservative Prime Minister Liz Truss’ tax-cutting plans, in order to bring stability to the country after weeks of economic and political turbulence.
UK eyes traveler quarantine as virus toll passes 100,000
Britain's Prime Minister Boris Johnson reacts while leading a virtual press conference on the Covid-19 pandemic, inside 10 Downing Street in central London Tuesday Jan. 26, 2021. The government said 100,162 people have died in the pandemic after testing positive for the virus, including 1,631 new deaths reported Tuesday. U.K. statistics agencies say that the number of deaths registered that mention COVID-19 on the death certificate is more than 108,000. British authorities are banking on a successful vaccination program to help the country suppress the outbreak and ease the lockdown. People arriving in the U.K. from abroad also must show they have tested negative for COVID-19.