Economics
Tax Breaks and Spending Bubble Up in a Post-Brexit Britain
- U.K. finance minister has vowed to ‘reset’ fiscal policy
- BOE running out of firepower as it gets ready to add stimulus
U.K. July Services PMI Dips Ahead of BOE's Super Thursday
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Chancellor of the Exchequer Philip Hammond is under pressure to deliver on his commitment to “reset” fiscal policy if the U.K. is to avoid a deep recession.
Six years of austerity are being reviewed by Prime Minister Theresa May’s government amid signs the decision to quit the European Union is propelling the economy toward its first contraction since 2009. Warnings are also mounting that the Bank of England cannot revive growth alone as policy makers prepare to deliver new monetary aid on Thursday.