UK government on Thursday unveiled an austerity budget with £55 billion ($65 billion) of tax hikes and spending cuts despite confirming its economy was in recession.

WION Dispatch: UK unveils austerity budget with major tax hikes, spending cuts

A month after "Trussonomics", the economic experiment by former UK Prime Minister Liz Truss failed miserably, Chancellor Jeremy Hunt delivered the autumn statement at the House of Commons on Thursday.

Chancellor Jeremy Hunt announces tax hikes, spending squeeze in £55 billion autumn budget

New UK Finance Minister Jeremy Hunt is all set to release the Autumn budget. He is expected to include billions of tax rises and spending cuts.

UK: Jeremy Hunt to present autumn budget today

Jeremy Hunt to present UK's autumn budget today

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