An independent think tank in the UK says the country needs to slash spending or raise taxes to keep its debt under control after rolling out a plan last month to make deep tax cuts.

France says it will press ahead with growth-stifling austerity policies, after it downgraded its economic outlook.

An estimated 200,000 people have demonstrated against economic austerity in France after unions called the first nationwide strike since the outbreak of the coronavirus. 

The Chancellor Rishi Sunak has bowed to the inevitable by raising the prospect of austerity and a dramatic cut in public finances once the coronavirus pandemic subsides.

Prime Minister Boris Johnson has flatly ruled out austerity measures as part of Britain's post-Covid economic recovery.

Saudi Arabia is reportedly continuing to import weapons from Western countries, especially the US, despite austerity measures taken recently to handle the kingdom's worst financial crisis in decades.

British Monarch Queen Elizabeth the Second has formally opened a new session of Britain's Parliament.