Now playing Next United Kingdom Hunt strives to play up UK's performance as he sets out austere budget The UK finance minister said Britain was holding up against "unprecedented global headwinds" as he outlined a severe package of cuts and tax rises. 17/11/2022
Now playing Next United Kingdom 'We made mistakes, I'm sorry': UK PM Truss apologises for budget mess Some have questioned how much longer UK PM Liz Truss can remain in office. 18/10/2022
Now playing Next United Kingdom New UK chancellor says mistakes were made and taxes could rise New Chancellor of the Exchequer Jeremy Hunt, a two-time Tory leadership candidate, said PM Liz Truss' government has to "show the world we have a plan that adds up financially." 15/10/2022
Now playing Next United Kingdom Truss resigns: A timeline of three months of UK political chaos From Boris Johnson's summer resignation, to the economic and political turmoil under Liz Truss's tenure that ended with her departure too: a blow-by-blow account of events in the UK's latest crisis. 14/10/2022
Now playing Next United Kingdom Truss 'incredibly sorry' as Kwarteng sacked as UK finance minister Kwasi Kwarteng's departure comes amid financial and political turmoil over government policy. His successor Jeremy Hunt will be the UK's fourth finance minister in as many months. 14/10/2022
Now playing Next United Kingdom Truss toils to stop UK economic turmoil from turning into tailspin The British prime minister, in office for barely a month, is struggling to stem the tide amid massive market turmoil, gloomy economic forecasts and a catastrophic drop in ratings. 12/10/2022
Now playing Next United Kingdom UK PM refuses to confirm if benefits will rise in line with inflation The turbulence around benefits comes after a backlash over the new government's tax-cutting growth plan. 04/10/2022
Now playing Next United Kingdom Mini-budget has 'inflicted lasting damage' on UK's Conservative Party Kwasi Kwarteng on Monday made a u-turn on a proposal to give a tax cut to the rich, saying "we get it, and we have listened." 03/10/2022
Now playing Next United Kingdom UK announces U-turn on plans to abolish top rate of income tax "We get it, and we have listened," said UK Chancellor Kwasi Kwarteng, announcing the U-turn. 03/10/2022
Now playing Next United Kingdom 'Trust me' says Truss after budget havoc and as UK energy bills rise The British prime minister insists the government has a "clear plan" that is "right for the country" after its mini-budget caused market turmoil and an opinion poll nosedive 01/10/2022
Now playing Next United Kingdom UK PM Truss defends tax-cutting budget despite market turmoil The Bank of England made an emergency intervention on Wednesday after warning of a "material risk to UK financial stability". 28/09/2022
Now playing Next United Kingdom Market turmoil over Truss tax cut plan 'could hit Europe's economy' The UK pound tumbled on Monday while the cost of borrowing soared to a higher level than that in Greece or Italy, the eurozone's most indebted members. 26/09/2022
Now playing Next Business British pound hits record low against US dollar It dipped as low as $1.0349 per US dollar early Monday but then rebounded to $1.07. 26/09/2022
Now playing Next United Kingdom Royal mourning gives a boost to local businesses in London Visitors crowding into central London from as far away as the US and India are giving a boost to businesses at a time when the British economy is facing a cost-of-living crisis 18/09/2022
Now playing Next United Kingdom 'Breaking point': Record numbers at risk of homelessness in UK A surge in 'no fault' evictions at the start of 2022 has left a record number of people at risk of homelessness in the UK. 28/07/2022
Now playing Next Culture news Booming UK film industry threatened by skill shortages 21,000 more staff are needed by 2025 to make films and TV in the UK, according to a report. 24/06/2022
Now playing Next Money A new stablecoin is ready to hit the UK amid the crypto crash GBPT will launch in early July and will be built on the Ethereum blockchain. 23/06/2022
Now playing Next United Kingdom Brexit will make UK workers poorer over next decade, report says An academic report "The Big Brexit" says some negative impacts on trade cannot be explained by the pandemic and is down to the UK's departure from the EU. 22/06/2022
Now playing Next United Kingdom UK government unveils budget for 'post-COVID economy' The Chancellor of the Exchequer said that "this budget is focused on investment and a more innovative and skilled economy," but the opposition has railed against tax cuts for banks and short-haul flights. 28/10/2021
Now playing Next United Kingdom UK: Business urges Johnson to put flesh on bones of post-Brexit vision The UK prime minister outlined a vision for a "high wage, high skill, high productivity and low tax economy" but gave no details of how he intends to achieve it. 06/10/2021