Chancellor echoes optimism but admits financial picture is worse and we face 'difficult decisions'
Chancellor echoes optimism but admits financial picture is worse and we face ‘difficult decisions’The UK’s economic prospects look better than they did a year ago and there are signs it is winning the battle against inflation, according to
Mr Bailey added: “We have made … particularly in the past few months, solid progress in terms of showing signs that inflation is being tackled. But let’s not get carried away, because there’s an awful lot still to do. “I’m very optimistic about our long-term future, but in the short term, we have to recognise that there may be shocks,” he told Sky News.
He admitted the UK’s financial plight has deteriorated since the spring as it has been hit by higher interest rates and growing debt costs.higher this year than forecast in the spring, said Mr Hunt. Gas prices are four times higher than before the invasion of Ukraine he said.
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