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International Business Times

Business

Olivier DEVOS

New UK Government Faces Tough Economic Challenge

Rachel Reeves Sir Keir Starmer United Kingdom Britain Liz Truss Economy

Keir Starmer appointed Rachel Reeves as his finance minister - the first woman in the role (Credit: AFP)

Britain's new Labour government on Friday pledged immediate action to grow the economy after the centre-left party won a landslide general election victory.

However, its task could be hampered by strained state finances following huge spending by the previous Conservative administration to protect millions of jobs during the Covid pandemic.

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