Demonstrators Hit London's Streets to Protest Against Energy Prices and Cost of Living Crisis

Name: Demonstrators Hit London's Streets to Protest Against Energy Prices and Cost of Living Crisis
Uploaded: 2022-10-01T12:17+0000
Duration: 153 min 24 s
Description: On 23 September, the UK's Chancellor of the Exchequer, Kwasi Kwarteng, unveiled a new £60Bln ($64Bln) growth plan to support the country’s economy as the cost of living soars. The plan includes canceling the planned rise in corporation tax, keeping it at 19 percent - the lowest level in the G20.

12:17 GMT, 1 October 2022

On 23 September, the UK's Chancellor of the Exchequer, Kwasi Kwarteng, unveiled a new £60Bln ($64Bln) growth plan to support the country’s economy as the cost of living soars. The plan includes canceling the planned rise in corporation tax, keeping it at 19 percent - the lowest level in the G20.

Sputnik

Sputnik comes live as demonstrators gather in London to protest against sky-high energy bills and the wider cost of living crisis.

Twenty-one percent of UK citizens say they were forced to cut costs on essential food items, and the same number of people say they had to cut spending on household essentials, according to a recent YouGov poll.

In September, the Bank of England raised its interest rate by 50 basis points to 2.25 percent from 1.75 percent per annum - the highest level since December 2008. According to the Bank's forecasts, the British economy will fall into recession in the fourth quarter of 2022.

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