Tax & Spend
UK’s Growth Plan Is Dead as Sunak Pivots Toward Spending Cuts
- Treasury is focused on firming up investor confidence
- Windfall tax and health care levy are back on the agenda
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Britain’s plan for growth is dead for now.
Prime Minister Rishi Sunak’s government is focusing instead on filling a deep hole in the public finances caused by rising interest rates, rocketing inflation and a likely recession, all of which have exhausted the resources available for stimulating the economy, an official with knowledge of the matter said.