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Added on the 11/09/2020 10:28:03 - Copyright : AFPTV - First images
Outgoing Conservative Finance Minister Jeremy Hunt and his family leave Downing Street in London after Britain's Labour Party swept to a landslide victory in a general election, ending 14 years of right-wing Conservative rule. Some senior ministers from the outgoing government lost, although several other big names narrowly saved their seats, including Hunt. IMAGES
UK Finance Minister Jeremy Hunt poses outside 11 Downing Street with the red, leather-covered box containing his speech before leaving to present the spring budget to parliament. Britain's Conservative government is expected to use the budget update to unveil tax cuts for millions of workers, in an attempt to woo voters before a general election. Prime Minister Rishi Sunak's party, which has been in power since 2010, is well behind the main opposition Labour party in opinion polls and looks likely to be dumped out of office. IMAGES
German Finance Minister Christian Lindner urges the European Union to "avoid a subsidy race we cannot avoid," warning that the bloc cannot simply follow United States economic policy moves. Speaking in Davos on the last day of the World Economic Forum, Lindner says the EU's "competitive disadvantage" to the US isn't subsidies, but its "private capitals market." SOUNDBITE
Russia's tanks stand poised on "Europe's Ukrainian lawn", British defence minister Grant Shapps warns, in a wide-ranging speech outlining the United Kingdom's security priorities. Since the fall of the Berlin Wall, the world has "come full circle, moving from a post-war to pre-war world," Shapps adds, raising the alarm at an increasingly unstable security situation amidst Israel's war with Hamas in the Gaza Strip, increasing attacks on Red Sea shipping by Yemen's Huthi rebels and Moscow's ongoing invasion of its pro-Western neighbour. SOUNDBITE
Britain's economy will rebound this year and not shrink as initially thought, but will grow far less than expected next year, finance minister Jeremy Hunt says as he presents his Autumn Statement to parliament. Gross domestic product will expand 0.6 percent in 2023, Hunt said citing the Office for Budget Responsibility fiscal watchdog, upgrading its prior forecast of minus 0.2 percent. GDP is then set to grow by 0.7 percent in 2024, which was sharply down from previous guidance for a 1.8-percent expansion. SOUNDBITE
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