London: The UK government has been in half its growth expectations for 2025 on Wednesday because it made billions of pounds to flow on the formulation of the public portfolio in the face of the opposite economic winds.
The update of the spending in the spring came at a time when it was elected in July after winning the ground collapse elections, and faces slow economic growth and high borrowing costs.
Britain’s economy is expected to grow only by one percent this year, as it has been revised from two percent estimate in late October when the Labor Party presented its opening budget.
However, the budget responsibility office, which monitors the UK spending, promoted the country’s growth expectations for the next three years.
“Our mission is to secure the future of Britain in a world that changes before our eyes,” said Finance Minister Rachel Reeves in the long -awaited update.
Fears regarding the American tariff and the war in Ukraine added to the UK’s economic problems, which led to the cutting of the government’s financial pillow.
“The threat facing our continent has shifted when (Russian President Vladimir) invaded Putin Ukraine,” Reeves said.
“The government’s responsible job is not just watching this change, this moment requires an active government.”
Prime Minister Kiir Starmer recently pledged to spend on defense, as the government confirms on Wednesday an increase of 2.2 billion pounds (2.8 billion dollars) next year.
To avoid deepening the deficit, Reeves has reduced deficit care payments and government departments budgets, blame a period of increased uncertainty in global markets.
“The Welfare of the Funds” came out of Parliament on Wednesday about 200 demonstrators, many of whom using animated chairs, ” AFP Journalist.
The central left government hopes for the discounts that have been waived on the payment payments for the provision of billions annually by the end of the decade.