UK Chancellor Rishi Sunak raised the public spending by a massive GBP 150 billion in an effort to underpin a strong economic recovery after the crisis caused by the coronavirus pandemic. That will be the largest increase this century, with spending growing by 3.8 percent a year in real terms by 2024-25, Sunak said in his autumn budget speech in the Parliament.
The chancellor said the latest budget began the work of preparing for a new economy post-Covid.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.