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Ahead of budget update, UK's Sunak says must stay on top of debt

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By Reuters
Ahead of budget update, UK's Sunak says must stay on top of debt
Ahead of budget update, UK's Sunak says must stay on top of debt   -   Copyright  Thomson Reuters 2022

LONDON – British finance minister Rishi Sunak said on Tuesday it was more important than ever to take a responsible approach to the public finances, a day before his budget update to parliament.

“With inflation and interest rates still on the rise, it’s crucial that we don’t allow debt to spiral and burden future generations with further debt,” Sunak said in response to public finances data that showed a bigger than expected budget deficit in February.

Sunak is due to deliver his “Spring Statement” on Wednesday shortly after 1230 GMT.