Speaking on the economic outlook at the Rose Garden at Downing Street on Tuesday, Prime Minister Keir Starmer warned that “things will get worse before they get better”.
Additional quotes
The budget coming in October will be painful.
Those with the broadest shoulders should pay the heaviest burden.
I will have to make big asks of the public, to accept short term pain for long term good.
We have inherited not just an economic black hole but a societal black hole and that is why we have to take action and do things differently. Part of that is being honest with people about the choices we face and how tough this will be.
Market reaction
GBP/USD holds a part of the intraday gains near 1.3235 following these comments, adding 0.34% so far.
Source: https://www.fxstreet.com/news/uk-pm-starmer-things-will-get-worse-before-they-get-better-202408270921