Regarding the poor British economy, the International Monetary Fund (IMF) has said in its report that this year the British economy will be worse than all developed countries, including Russia.
The IMF report further states that the British economy is expected to contract by 0.6% instead of 0.3% this year. 0.9% growth in the economy is expected next year due to the correct government initiatives.
According to the IMF, rising gas prices and interest rates are hindering the growth of the British economy. Chancellor Jeremy Hunt ruled out tax cuts in the Budget despite pressure.
On the other hand, according to the British media from London, Chancellor Jeremy Hunt says that a reduction in the inflation rate will be equivalent to a reduction in taxes.
According to the British media, British Prime Minister Rishi Sonak has promised to halve the inflation rate this year.
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