A budget to wake up British growth
Chancellor of the Exchequer Jeremy Hunt favors measures for jobs and against the high cost of living.
In the fall, the new Prime Minister Rishi Sunak had to urgently draw up a budget reassuring the markets after the catastrophic Liz Truss episode. This Wednesday, a quietly concocted “spring budget” was unveiled, with the aim of stabilizing the economy and awakening growth, in particular by boosting the labor market and stimulating business investment. For the Conservatives, the challenge is to improve their poor position in the polls before the 2024 elections.
Before listing the measures before Parliament, the Chancellor of the Exchequer stormed with optimism based on good news. Jeremy Hunt thus assured that the world’s sixth largest economy “will not be in a technical recession (two consecutive quarters of decline in GDP) This year“, contrary to what was announced. It is based on the latest forecasts from the OBR, the public budget forecasting body, published on the same day. GDP will end when…