The finance minister in the United Kingdom, Jeremy Hunt, said that the economy will not enter a recession this year. The updated outlook was based on new forecasts from the independent Office for Budget Responsibility. The budget announcements made by Hunt included an increase in the pension allowance for higher earners, the abolition of the lifetime allowance on tax-free pension pots, and the introduction of free childcare support.
The post UK will not enter a recession this year, Finance Minister Jeremy Hunt says in budget speech appeared first on Balanced News Summary.