UK Set To Cut Public Spending By Billions Of Pounds

Source: International Business Times

Britain's finance minister Rachel Reeves prepares to deliver her Spring Statement AFP Britain's finance minister Rachel Reeves is set to detail billions of pounds of spending cuts in her Spring Statement on Wednesday to address the country's ailing public finances. The spending update comes as the Labour government, elected in July after a landslide election win, faces sluggish economic growth and rising borrowing costs. In a glimmer of good news, Britain's annual inflation rate eased to 2.