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UK Finance Minister Rishi Sunak announced on Wednesday a 6 6 billion ($ 7.9 billion) tax cut on workers, as well as cut fuel taxes and signaled a future income tax cut.
He also sought to ease the rise in living prices that is the highest in history.
However, the package presented is unlikely to fully support the British in distress from an expected rise in inflation.
Prices are already rising at the fastest pace in three decades, and further costs will rise next month.
Sunak said the conflict in Ukraine posed a risk to the economic recovery as the Bank of England lowered its growth forecast for 2022 to 3.8%, from a previous estimate of 6%.
Among other points on the package, Sunak listed the’s 1 billion’s 1 billion grant program for troubled Britons, while promising tax cuts for business investments in the autumn
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