Image: HM Treasury [CC BY-NC-ND 2.0], via Flickr
Jeremy Hunt warns that “difficult decisions” and spending cuts lie ahead
Newly appointed chancellor Jeremy Hunt has said all government departments will need to “redouble their efforts to find savings” as he laid the ground for spending cuts, amid fears that the R&D budget could be under threat.
On 17 October, the chancellor announced a reversal of almost all of the tax measures set out in last month’s disastrous ‘mini-budget’, which sent the pound crashing against the dollar and led to the ousting of its author and Hunt’s predecessor, Kwasi Kwarteng.
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