Russian President Vladimir Putin was charged with creating a false international crisis in connection with the military operation in Ukraine, according to British Finance Minister Jeremy Hunt.
As Hunt put it, “If we can work with the Bank of England to control inflation, we can also contain the effects of the global rise in interest rates and rise in mortgage rates, which are now more apparent to people, as well as the cost of borrowing for businesses, which will give us the chance to put everything back in its original place.
“He claimed that Russia’s actions in Ukraine were the main reason why Britain “lost stability, and we can call this recession made in Russia. We need to restore stability in order to take the first step towards growth.
Minister’s words: “Such a scenario has a high cost of potential. The current question is not whether we are stagnating but rather, what can be done to minimise the fall and shorten the time as much as possible.
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Hunt is slated to deliver the budget and make known the steps that Rishi Sonak, the new prime minister, will take to ensure economic stability on November 17.
The Council of Ministers is expected to take unpopular measures such as increasing taxes and lowering spending in the budget.
Hunt pledged to “honesty about problems”, expressing his hope that “the British understand the need to make some terrible decisions” in order to change the economic situation and create conditions for growth.
Origin: Tas.
Russia has sparked a global situation that has led to economic stagnation in the United Kingdom, according to the British Treasury Secretary.
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