The chancellor is actively working with the public sector to boost productivity, ease financial pressures, and maintain low taxes for working families. This includes streamlining tasks and prudent spending to prevent potential interest rate hikes due to increased borrowing.
Chancellor Jeremy Hunt is confident his plan to reduce rising prices is working and will soon ease the financial strain on UK households.acknowledged that many households across the country are still struggling financially.Despite the's prediction of a 7.1% inflation rate, experts still expect it to drop to around 5% by the year-end.
Inflation has eased back to 6.8% from a recent eye-watering peak of 11.1% last October, but is still far from the Bank of England's 2% target. Meanwhile, the Office for National Statistics has significantly upgraded the UK's growth figures, showing that the economy rebounded from the COVID pandemic faster than previously thought, surpassing its pre-pandemic size nearly two years ago."As we move into autumn, I know family budgets are still stretched, but inflation is coming down and now is the time to see the job through.
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