Rich face tax rises as UK crisis mounts

Britain’s finance minister on Wednesday said the country’s economy is facing its worst year since World War II as he unveiled measures including higher taxes for top earners in an annual spring budget aimed at countering recession. Laying out his government’s strategy for investment and financial cuts for the coming year, Treasury chief Alistair Darling warned of further tough times ahead, insisting there were “no quick fixes” to the current crisis.

Share