Hunt Pushes Back UK Spending Cuts Until After Next General Election

(Bloomberg) -- Chancellor of the Exchequer Jeremy Hunt has delayed the most painful austerity measures until after the UK’s next general election in his attempt keep markets onside without undercutting his position with voters. Under a new fiscal strategy set out in Parliament Thursday, spending cuts won’t kick in until 2025, beyond the end of the current parliamentary term. They will then escalate quickly over the next three years, Treasury figures show.

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