(MENAFN) The British government has unveiled its economic development strategy, which calls for tax cuts and higher immigration to get the nation out of recession. The administration of Prime Minister Liz Truss wants to bring in more foreign skilled, unskilled, and seasonal workers even though she has pledged to tighten down on unauthorized immigration to the United Kingdom.
The government's growth plan, which was unveiled by Truss and Chancellor Kwasi Kwarteng on Friday, includes the steepest tax cuts in 50 years, with the highest earners expecting a drop in the top rate of income tax from 45 percent to 40 percent and lower-paid workers anticipating a drop in the basic rate from 20 percent to 19 percent. The program is anticipated to cost the United Kingdom pound161 billion (USD174 billion) over the next five years when combined with aid for Britons with skyrocketing energy costs.
Kwarteng plans to reduce this expense by hiring a ton of foreign workers in the United Kingdom. The chancellor's proposal declares that "the government will set out a plan in the coming weeks to ensure the immigration system supports growth whilst maintaining control," asserting that immigration "plays an important role in economic growth, productivity, and innovation."
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