Uk Foreign Minister Jeremy Hunt

From FTA to FinTech: Highlights from India-UK Economic Financial Dialogue

Union Finance Minister Nirmala Sitharaman and UK's Chancellor of the Exchequer Jeremy Hunt discuss collaborations in financial services, infrastructure, and trade

UK reveals measures to boost economy, eases cost-of-living burden

The UK has unveiled a clutch of measures to boost its struggling economy, including childcare reforms, tax cuts for businesses, and policies to ease the cost-of-living burden for households

Britain is in recession, Hunt makes it official; windfall tax hiked to 35%

The tax burden would hit 37.1 per cent of GDP, its highest sustained level since World War Two

UK unveils emergency budget statement amid big demands but little cash

So many demands. So little money. Just three weeks after taking office, British Prime Minister Rishi Sunak faces the challenge of balancing the nation's budget while helping millions of people slammed by a cost-of-living crisis as Russia's war in Ukraine pushes up energy prices and slows economic growth. Treasury chief Jeremy Hunt will deliver the government's plan for tackling a sputtering economy in a speech to the House of Commons on Thursday. The emergency budget statement aims to restore the government's financial and political credibility after former Prime Minister Liz Truss announced 45 billion pounds ($53 billion) in unfunded tax cuts that torpedoed investor confidence, sent the pound to record lows against the U.S. dollar and sparked emergency central bank intervention. Truss was forced to resign six weeks after taking office. Hunt is expected to announce 30 billion pounds in spending cuts and 24 billion in tax increases, the BBC and other British media reported. The ...

UK PM Sunak begins Cabinet reshuffle, keeps Chancellor Jeremy Hunt in place

British Prime Minister Rishi Sunak on Tuesday began putting his top team in place with key Cabinet appointments and decided to keep the new Chancellor, Jeremy Hunt, in place for economic stability. In another move aimed at continuity, James Cleverly will stay in his post as Foreign Secretary despite not being a Sunak loyalist. Hunt, who was parachuted in earlier this month by former prime minister Liz Truss and went on to reverse her tax-cutting mini-budget, has been an ally of Sunak and it was widely expected that he would keep his job. It was also expected to be one of the first announcements as a signal to the financial markets, which have considerably calmed since Sunak's Diwali victory. "It is going to be tough. But protecting the vulnerable and people's jobs, mortgages and bills will be at the front of our minds as we work to restore stability, confidence and long-term growth," Hunt tweeted soon after. Another close ally, Dominic Raab, who served as Deputy Prime Minister an

Liz Truss quits as UK PM after 45 days; a look at the front-runners

Truss, who came to power on September 6, is the shortest-serving UK prime minister, who succeeded Boris Johnson. She delivered a statement outside 10 Downing Street

UK's new finance minister Jeremy Hunt reverses all of Liz Truss' tax cuts

Britain's new Chancellor of the Exchequer, Jeremy Hunt, on Monday reversed entirely all of British Prime Minister Liz Truss' tax cuts and scaled back the expensive energy bills support in an emergency fiscal statement. Hunt's statement is an attempt to reassure the markets about the country's fiscal sustainability and calm the shockwaves of his predecessor's mini-budget last month. The finance minister said a 1 pence cut to income tax will be delayed "indefinitely" until the UK's finances improve, instead of being introduced in April 2023 as announced in predecessor Kwasi Kwarteng's mini-budget. The government's energy price guarantee will only be universal until April and not for two years as originally planned. The government has today decided to make further changes to the mini-budget, and to reduce unhelpful speculation about what they are, we've decided to announce these ahead of the medium-term fiscal plan, which happens in two weeks," Hunt said in a statement. After meeting

New UK Finance Minister Jeremy Hunt admits mistakes, warns of tax rises

Jeremy Hunt, the new UK Chancellor appointed by Prime Minister Liz Truss after she sacked her friend Kwasi Kwarteng in an attempt to calm the ongoing economic and political crisis, admitted on Saturday that mistakes were made by his predecessor and signalled a reversal of his tax-cutting approach. Hunt, a former Conservative Party leadership contender who is dubbed as the most powerful man in the UK government as Truss battles to win back her credibility, also indicated that spending cuts would have to be brought in across all state departments to deal with the tough economic climate. He acknowledged that the mini-budget tabled by Kwarteng at the end of last month had two mistakes cutting the 45-pence rate of tax for highest earners, an announcement since reversed, and announcing the tax-cutting package without independent costings by the Office for Budget Responsibility (OBR). "The way we went about it clearly wasn't right and that's why I'm sitting here now," he told the ...

UK PM Liz Truss appoints Jeremy Hunt to replace sacked Chancellor Kwarteng

Embattled British Prime Minister Liz Truss on Friday appointed former Cabinet minister and party leadership contender Jeremy Hunt as her new Chancellor, after she sacked close friend Kwasi Kwarteng in an effort to stem the economic turmoil unleashed by his mini-budget. The Rt Hon Jeremy Hunt MP has been appointed Chancellor of the Exchequer, Downing Street tweeted. Hunt was himself in the race for the top job after Boris Johnson resigned in July, but threw his weight behind former Chancellor Rishi Sunak after he did not get enough Conservative Party members backing him in the leadership election. His appointment is seen as Truss' attempt at closing the widening divide within the Tories, with many of Sunak loyalists in open rebellion against her policies. In her letter to Kwarteng released on Twitter, Truss said she was sorry to lose him and indicates that she still believes in the broader economic vision laid out in the controversial mini-budget. We share the same vision for our ..

UK foreign minister Jeremy Hunt slams Google over 'child abuse content'

The British government has repeatedly criticised online platforms such as Twitter, YouTube and Facebook for failing to remove abusive material