© Reuters. British Chancellor of the Exchequer Kwasi Kwarteng looks on during Britain’s Conservative Party’s annual conference in Birmingham, Britain, October 3, 2022. REUTERS/Hannah McKay
LONDON (Reuters) – Britain’s finance minister Kwasi Kwarteng on Monday downplayed the prospect of new austerity measures to cut public spending, after reversing his plan to abolish the top rate of income tax.
Asked about possibility of further austerity measures, Kwarteng said: “I don’t think so at all.”
“I think what we’re trying to focus on is growing the pie, growing the economy,” he told LBC radio.