No Major Spending Plans in UK Budget

Britain’s first budget plan since the Brexit vote will not include a big new spending push because of “eye-wateringly” high public debt levels, but will have some help for the economy and struggling families, the country’s Chancellor said.

Philip Hammond, who will spell out the economic priorities of the new government on Wednesday, said on Sunday he wanted to keep some fiscal “head-room” as two years of difficult negotiations about leaving the European Union approach.

“Over the next couple of years we are going to face some uncertainty over the economy,” he said in an interview with BBC television on Sunday.

Reuters

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