UK’s Hammond says might be able to relax budget squeeze in autumn


LONDON (Reuters) – British finance minister Philip Hammond said on Sunday that he might be able to relax his grip on public spending at the end of this year but the country had to keep on bringing down its levels of public debt that are too high. Britain’s Chancellor of the Exchequer Philip Hammond arrives in Downing Street in London, March 6, 2018. REUTERS/Peter Nicholls“If there is the flexibility and the space to do something, then we will decide in the autumn how we are going to use that,” Hammond told BBC television. Hammond is due to announce a half-yearly update of Britain’s public finance figures on Tuesday and he confirmed on Sunday that he would not be delivering any new tax or spending measures in the so-called Spring Statement. Writing by William Schomberg; Editing by Paul SandleOur Standards:The Thomson Reuters Trust Principles.
Source: Reuters