Britain Finance Minister Rishi Sunak has said that the
government is in no mood to impose any austerity measures, on the contrary, it
will ensure an increased day-to-day spending in the public services, Reuters
reported on Sunday.

 According to the wire
service, Britain is on course to leverage its economy by borrowing 400 billion
pounds or 531.28 billion dollars. The sum is its highest borrowing since
the World War II, necessitated by the worst economic crash the island nation has seen
in 300 years.   

“You will not see austerity next week,” Sunak told Sky News
television on Sunday. “What you will see is an increase in the government’s
spending on day-to-day public services, and quite a significant one, coming on
the increase that we had last year,” he said according to the Reuters report.

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Sunak is expected to announce a one-year funding of 3 billion pounds for the National Health Service on Wednesday, as Britain battles a fresh surge in coronavirus cases.

The finance ministry’s prospective decisions are indicative
of the economic strain that the nation has been put under by the pandemic.

Sunak did not rule out a potential pay freeze in public
sector to stem the borrowing increasingly being required to tide over the bleak times.

Asked about a possible hike in taxes, Sunak refused to
comment on any future budgetary decision.

He also let it be known that Christmas will not be a normal
affair this time, even though the government is looking for ways to allow families to
come together for the festival.

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Last week, UK Prime Minister Boris Johnson had approved a 16.5
billion pounds increase in defense budget to be spent over a period of four
years. Johnson’s allocation came on top of the funding announced in the
conservative party’s manifesto.

He justified the increased funding saying that mode of
warfare has undergone a huge change since the times of Cold War.

A lot of
increased budget will be spent of spacetech, AI projects and similar
cutting-edge modern fortifications.