British finance minister Jeremy Hunt will promise on Friday to tackle the country's weak productivity with post-Brexit finance reforms to boost growth, but he will also stick to the tax rises that have angered some lawmakers in his Conservative Party.
Hunt, who steadied financial markets after the turmoil of former Prime Minister Liz Truss' "mini-budget" in September last year, is preparing to announce a plan for growth in a budget statement in March.
"Confidence in the future starts with honesty about the present, and we should not shy away from the biggest challenge we face which is our poor productivity," Hunt was due to say in the speech, excerpts of which were released by the ministry. Hunt would confirm that reforms to the European Union's Solvency II rules will be implemented in the coming months, allowing insurers to invest more in the economy, the ministry said.
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