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In first budget since Brexit vote, Britain bracing for uncertainties ahead Add to ...

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The British government is cutting spending and raising taxes in an effort to build a hefty war chest to cope with the many uncertainties surrounding Brexit.

Philip Hammond, the Chancellor of the Exchequer, unveiled the government’s annual budget on Wednesday, just days before Britain is set to begin the process of leaving the European Union. It was the first budget since the country voted to leave the EU last June, and Mr. Hammond stressed that the government wants to lay a solid financial groundwork as it heads into negotiations with the EU this month.

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