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UK Treasury Secretary Rishi Sunak announces the government’s public spending plans for the year.
Prime Minister Boris Johnson’s administration delivered unprecedented fiscal stimulus last year as the economy was hit by the coronavirus pandemic, which saw its sharpest decline in more than 300 years.
The UK budget for 2021 is set aside as nationwide Covid-19 restrictions are phased out over the coming months. Analysts expect possible tax hikes and a nod to future tightening that will appear in Wednesday’s latest budget announcement.
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