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Al Jazeera

UK announces austerity budget, admits recession

Al Jazeera ·
Al Jazeera
Al Jazeera

UK finance minister Jeremy Hunt has officially declared that his nation is in a recession. He expects the economy to shrink even further in the next fiscal year. The incumbent chancellor has laid out his plans for tackling rising inflation, mindful of the wreckage left by his predecessor's "mini-budget" six weeks ago.