Friday, November 27, 2020
22 C
Abuja
Friday, November 27, 2020

UK’s Sunak: Need to keep an eye on public finances as economy recovers

Must read

Ultimus Holdings to invest $2billion into Africa’s economy in 10 years

Ultimus Holdings, a pan-African investment company looking to expand its investment portfolios across Real Estate & Construction, Services, Healthcare, Consumer & Industrial Goods, Financial...

How Nigerian businesses can benefit from Africa Free Trade Treaty — Osinbajo

Just as the Africa Continental Free Trade Area (AfCFTA) treaty comes into force in January 2021, Nigerian businesses and the entire private sector have...

Super Eagles star delighted after scoring his first Champions League goal

Super Eagles star Zaidu Sanusi scored his first Champions League goal in FC Porto 2-0 away...

British Finance Minister Rishi Sunak said on Thursday that unemployment is expected to continue to rise in the UK and noted that they are acting before a “tricky, difficult winter economy,” as reported by Reuters.

Additional takeaways

“We always stand ready to do what’s necessary.”

“We are ready to do more if needed.”

“We cannot continue to provide the same support as we did at the beginning, it’s not sustainable.”

“We need to be mindful of the cost of job support.”

“As economy recovers, we need to keep an eye on public finances.”

“I will need to make difficult decisions on public finances in the future.”

“Priority needs to be on recovery for now.”

Market reaction

The GBP/USD pair showed little to no reaction to these remarks and was last seen gaining 0.08% on the day at 1.2732.

 

- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest article

Ultimus Holdings to invest $2billion into Africa’s economy in 10 years

Ultimus Holdings, a pan-African investment company looking to expand its investment portfolios across Real Estate & Construction, Services, Healthcare, Consumer & Industrial Goods, Financial...

How Nigerian businesses can benefit from Africa Free Trade Treaty — Osinbajo

Just as the Africa Continental Free Trade Area (AfCFTA) treaty comes into force in January 2021, Nigerian businesses and the entire private sector have...

Super Eagles star delighted after scoring his first Champions League goal

Super Eagles star Zaidu Sanusi scored his first Champions League goal in FC Porto 2-0 away...

Ondo spends N6bn on workers’ deductions

Ondo State Governor, Rotimi AkeredoluBy Dayo Johnson – Akure Ondo State Government has commenced the payment of the five months outstanding deductions to cooperative societies...