UK Treasury chief shows no sign of turning off spending taps

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Sumary of UK Treasury chief shows no sign of turning off spending taps:

  • LONDON (AP) — The U.K treasury chief batted away speculation Sunday that he is about to turn off the spending that has buoyed the economy during the COVID-19 pandemic, saying now is not the time to worry about the government record peacetime borrowing..
  • Rishi Sunak used appearances on Britain Sunday morning political talk shows to announce plans to give the National Health Service an extra 3 billion pounds ($4 billion) and pledge that support for businesses and workers hurt by the pandemic will continue through the spring..
  • That triggered questions about whether he was preparing to clamp down on spending and raise taxes amid forecasts that government borrowing will reach 372 billion pounds this fiscal year….

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