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UK’s Summer Budget

A handout picture released by the UK Parliament’s Parliamentary Recording Unit (PRU) via the Parliament TV on July 8, 2015 shows British Chancellor of the Exchequer George Osborne delivering his budget speech to the House of Commons in London on July 8, 2015. (AFP)

The waves of joyous admiration for Greeks rejecting the austerity proposal drawn by EU creditors are still resounding across Britain today.

The sight of a country shaking its fists in the fight against unwelcomed draconian economic plans once again sparked such sentiments.

Shortly afterwards, the UK’s chancellor of the Exchequer unveiled the promised controversial austerity plans. In his speech in parliament, he was full of promise to put ordinary citizens first.

He boasted of rolling out a national living wage, freezing fuel duties and vowing to make work pay. Shortly after the plan was announced, many economists, think tanks and institution reacted.

 


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