Business Secretary Kwasi Kwarteng has warned that Britain cannot spend its way to prosperity. The Telegraph says that while Chancellor Rishi Sunak is “keen to rein in public spending and start setting out future tax rises” in the March 3 budget, he is facing calls for further public spending increases to boost the economy in the wake of the pandemic. In an interview with the paper, Mr Kwarteng says a “thriving private sector” is key, commenting: “Great public services rely on a thriving, dynamic open economy. The Chancellor is of the same opinion. We as a Government are not going to be able to spend our way to prosperity."
Read more: The Daily Telegraph
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