AFP, London :
Britain’s first post-Brexit budget will focus on infrastructure and could spell an end to the previous government’s rigid fiscal targets, according to a treasury statement released Sunday.
The budget will be new finance minister Philip Hammond’s first set-piece since replacing George Osborne who resigned following the June vote.
Under previous prime minister David Cameron, Osborne oversaw an austerity programme of spending cuts and tax rises at odds with new premier Theresa May’s views on the economy which she has said no longer works for everyone.
Hammond will promise to place “investment in infrastructure… at the heart” of Wednesday’s autumn statement to lawmakers, exactly five months after the referendum backing Brexit, the statement said.
“He will set out how the government will fire up the nation’s economic infrastructure-all part of plans which form the backbone of ongoing work to close the UK’s productivity gap,” it added.
Britain’s first post-Brexit budget will focus on infrastructure and could spell an end to the previous government’s rigid fiscal targets, according to a treasury statement released Sunday.
The budget will be new finance minister Philip Hammond’s first set-piece since replacing George Osborne who resigned following the June vote.
Under previous prime minister David Cameron, Osborne oversaw an austerity programme of spending cuts and tax rises at odds with new premier Theresa May’s views on the economy which she has said no longer works for everyone.
Hammond will promise to place “investment in infrastructure… at the heart” of Wednesday’s autumn statement to lawmakers, exactly five months after the referendum backing Brexit, the statement said.
“He will set out how the government will fire up the nation’s economic infrastructure-all part of plans which form the backbone of ongoing work to close the UK’s productivity gap,” it added.
