UK Tories see best chance in 18 years to cut welfare bill
First Budget statement after election win due next week
London
PRIME Minister David Cameron's Conservatives have their best chance in almost two decades to remould Britain's economy next week, in their first Budget statement after an unexpectedly decisive election victory.
Freed from needing the support of their former coalition partners, the Liberal Democrats, Conservatives want to reduce borrowing faster this year and set out plans to cut the annual welfare bill by £12 billion (S$25 billion).
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Putin plans to meet Xi in China days after his new term starts
Biden vetoes bid to repeal US labour board rule on contract, franchise workers
Economic leaders of South Korea, Japan, China say FX volatility is a risk
US automakers win extension on use of Chinese graphite in EV tax credits
US service sector contracts in April; price pressures up
Thaksin’s daughter calls central bank independence an ‘obstacle’