UK finance minister announces tax hikes and spending cuts, says country is in recession

The U.K. government on Thursday unveiled a sweeping fiscal plan aimed at plugging a gaping hole the public finances and restoring Britain's economic credibility.

UK finance minister announces tax hikes and spending cuts, says country is in recession
The U.K. government on Thursday unveiled a sweeping fiscal plan aimed at plugging a gaping hole the public finances and restoring Britain's economic credibility.