The UK's prime minister Keir Starmer said on Monday that tough stuff is coming in the budget he will present on Wednesday. He added that Britain must embrace the harsh light of fiscal reality. “Nobody wants higher taxes, nobody wants public spending cuts, but we have to be realistic about where we are as a country,” Starmer stated.
The official warned that the UK is facing unprecedented circumstances as long-term challenges were ignored for 14 years and the economy is riddled with weakness on productivity and investment. So his government is to take decisions that will "prevent devastating austerity," he added.
The PM also unveiled that Wednesday’s budget will deliver honest, responsible, long-term decisions in the interests of working people. “It’s stability that means we can invest, and reform that will maximize that investment,” he noted.