Chancellor Jeremy Hunt sets out growth priorities for the UK economy

Chancellor Jeremy Hunt sets out growth priorities for the UK economy

Chancellor Jeremy Hunt has outlined plans to boost the UK economy while stressing that tax cuts will not happen until inflation is under control.

Speaking at Bloomberg’s European headquarters in London, the Chancellor set out his long-term vision for how the government planned to achieve growth across multiple sectors in the UK.

This was Hunt’s first big economic speech since he took office in October, where he addressed a long-term plan to tackle poor productivity, as well as calling for greater investment in education and technology.

He also dismissed economic ‘gloom’ as he promised to use ‘Brexit freedoms’ to increase growth and productivity in the UK.

In his Autumn Statement last November, Hunt revealed tax rises and spending cuts worth billions of pounds aimed at addressing the nation’s finances, as it continued to face the cost of living crisis. Read more from www.gov.uk >

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Liz Truss confirmed as new British prime minister

Liz Truss confirmed as new British prime minister

The foreign secretary saw off a Tory leadership challenge from former chancellor Rishi Sunak to win the race to replace Boris Johnson as Conservative Party leader and the UK’s next PM.

Liz Truss becomes Prime MinisterAfter weeks of an often bad-tempered and divisive leadership contest, Truss, currently the foreign minister and the favourite to win, beat former finance minister Rishi Sunak in a vote of Conservative Party members, winning by 81,326 votes to 60,399.

Investors seemed, however, to have a slight preference for her opponent. A survey of 885 UK-based retail investors by HYCM found that 36% investors favoured Sunak, while 31% leant toward Truss and 33% had no preference.

On the housing side, Twenty7Tec chief executive James Tucker says: “One thing that I hope that our new PM gets right is the stop treating the housing and mortgage sectors as unrelated industries. The ministry of housing, communities and local government and the treasury need more joined-up thinking on how they work together.

“There’s a lot of rhetoric about housebuilding, yet even the recent report by the Land Registry into house buying barely touches on the element that makes the market work: mortgages.

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