Britain's new finance minister Nadhim Zahawi takes the reins of an economy struggling under the strain of nearly double-digit inflation and a slowdown that looks set to be more severe than in most of the world's other big nations.
Like his predecessor Rishi Sunak, Zahawi will face pressure to spend more and cut taxes from lawmakers in Prime Minister Boris Johnson's Conservative Party who have been stung by a slump in the party's popularity.
Since then, the value of sterling has fallen further and it hit a two-year low against the U.S. dollar on Tuesday, which will add to inflation pressures building in Britain. Most economists think that in the short term it will avoid the technical definition of a recession - two consecutive quarters of contraction - thanks in part to the latest emergency cost-of-living support measures announced by Sunak in May.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Nadhim Zahawi appointed UK finance ministerBritish Prime Minister Boris Johnson appointed Nadhim Zahawi as finance minister on Tuesday, replacing Rishi Sunak who earlier quit in protest at Johnson's leadership.
Leer más »
New York lawmakers to vote on new gun rules following ruling - New York Amsterdam NewsNew York lawmakers plan to vote Thursday on legislation seeking to limit the proliferation of firearms in public after the Supreme Court gutted the state’s century-old handgun licensing law. The state is overhauling its rules for carrying guns [...]
Leer más »
New Ford Bronco confirmed for Euro sale... but not UKCAR magazine UK reveals details of the all-new Ford Bronco 4x4 with pictures and details
Leer más »
New Lamborghini Countach: epic UK road trip in reborn icon | AutocarBuckle up - a legend has been reborn. Join matty_prior as he takes the revived Lamborghini Countach on an epic coast-to-coast road trip
Leer más »
Electric car sales UK: one in five new cars is now an EVNew figures out today confirm that one in five new cars sold in the UK this year are now electric vehicles ⚡️
Leer más »
UK regulator appoints new digital assets director to oversee cryptoMatthew Long has held a raft of positions tackling economic crime and illicit finance.
Leer más »