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Added on the 05/09/2016 14:26:14 - Copyright : Reuters EN
UK Finance Minister Jeremy Hunt poses outside 11 Downing Street with the red, leather-covered box containing his speech before leaving to present the spring budget to parliament. Britain's Conservative government is expected to use the budget update to unveil tax cuts for millions of workers, in an attempt to woo voters before a general election. Prime Minister Rishi Sunak's party, which has been in power since 2010, is well behind the main opposition Labour party in opinion polls and looks likely to be dumped out of office. IMAGES
Protesting farmers set fire to tyres and block roads with their tractors on the sidelines of a meeting of European agriculture ministers in Brussels. Farmers across the continent have been protesting for weeks over what they say are excessively restrictive environmental rules, competition from cheap imports from outside the European Union and low incomes. IMAGES
As new figures show the UK is in recession, with two successive quarters of falling GDP in Q3 and Q4 2023, the UK's Chancellor of the Exchequer Jeremy Hunt says that the economy is "more resilient than most people predicted" and insists that the government will "stick to our guns" on its plans to bring down inflation. News of the recession comes as voters go to the polls in two by-elections on Thursday, with the Conservatives fearful of losing one-time strongholds in Wellingborough, central England, and Kingswood in the southwest. SOUNDBITE
Prime Minister Rishi Sunak announces £29.5 billion ($37.2 billion) of private funding for new UK projects as more than 200 CEOs descend on London for the 2023 Global Investment Summit. The investments are "a huge vote of confidence in our country's future," Sunak says in a statement before the opening of the event at Hampton Court Palace, just outside London. SOUNDBITE
Britain's economy will rebound this year and not shrink as initially thought, but will grow far less than expected next year, finance minister Jeremy Hunt says as he presents his Autumn Statement to parliament. Gross domestic product will expand 0.6 percent in 2023, Hunt said citing the Office for Budget Responsibility fiscal watchdog, upgrading its prior forecast of minus 0.2 percent. GDP is then set to grow by 0.7 percent in 2024, which was sharply down from previous guidance for a 1.8-percent expansion. SOUNDBITE
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