Jeremy Hunt

UK launches multi-billion pound package to coax people back to work

A depleted pool of workers, the result of a combination of factors including a rise in early retirement, long-term illness and migration trends, means Britain's post-COVID labour market recovery is trailing that of international peers.

'Independence better than dependence': Jeremy Hunt announces major benefits shake-up for Universal Credit

In his budget speech, Hunt announced plans to raise the minimum amount claimants must work before having to engage with government jobs coaches

UK unveils cost-of-living budget as mass strikes hit nation

Ahead of the budget, Britain's Chancellor of the Exchequer Jeremy Hunt has flagged increased childcare funding and proposals to encourage Britons aged over 50 to rejoin the jobs market

India, UK finance ministers agree to make further progress on FTA

Hunt, on his first international visit as UK Chancellor, also met with business leaders in Bengaluru and visited the offices of tech multinational Wipro which employs over 4,000 people in the UK

UK narrowly avoided recession in 2022, fears loom for economy this year

Economists remain divided on whether the UK will enter or avoid an economic downturn this year, but the Bank of England expects the country to enter recession but much shorter and shallower than previously feared.

‘Must stick to plan to bring down nightmare inflation,’ says UK finance minister Jeremy Hunt

Inflation in the United Kingdom eased slightly last month after hitting a 41-year high in October, providing some relief to the Bank of England. The pressure on households, however, remained intense as food and drink prices climbed at the fastest pace since 1977, according to government data

UK becoming less attractive for foreign investors, reveals survey

Only 31 per cent of manufacturers think that UK is a competitive location as compared to 63 per cent a year ago. While 43 per cent of the manufacturers said that Britain has become less attractive to investors abroad

United Kingdom reinstates freeze on alcohol taxes in yet another budget flip-flop

British alcohol duties, by default, are designed to increase in line with retail inflation. However, in September, Hunt’s predecessor Kwasi Kwarteng had announced a one-year freeze, scheduled to take effect from February 2023, as part of a plan to boost economic growth in the United Kingdom

New British PM Rishi Sunak warns of ‘very difficult decisions’ to tackle economic crisis

Sunak, Britain’s first Indian-origin Prime Minister, took office on Tuesday with a pledge to fix the “mistakes” his predecessor Liz Truss made which left a black hole in government finances and the markets in turmoil

New UK PM Rishi Sunak appoints Cabinet, retains finance, foreign and defence ministers

Sunak retained James Cleverly as foreign secretary and Ben Wallace as defence secretary. Jeremy Hunt who was appointed by Sunak's predecessor Liz Truss continues to be the finance minister