Great Britain: Rishi Sunak's government announces tax cuts. Prime Minister Sunak is reacting to poor polls before the election; the opposition is calling it an “act of desperation”.
Analysts criticized the billion-dollar tax relief as “modest” given the high inflation that the country is suffering from. In January, Britain continued to have the highest inflation among the G-7 countries. Most recently, the inflation rate was four percent - twice as high as the Bank of England's stated target.