Britain’s finance minister unveils “mini budget”

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Reuters UK

LONDON (Reuters) -British finance minister Kwasi Kwarteng on Friday unveiled a broad set of measures aimed at cutting taxes and energy bills for households and businesses to try to drive economic growth that would require a huge increase in borrowing. UK gilt yields surged by the most in a day in well over a decade as the UK Debt Management Office laid out plans for additional issuance to fund the planned spending, while the pound hit new 37-year lows against the dollar. Britain’s blue-chip stocks slid even further into the red, in line with a broader equity-market decline. MARKET REACTION: BO…

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