UK's Hammond pledges to spread wealth, but debt 'eye-wateringly' high
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Britain's Chancellor Philip Hammond arrives at Downing Street in central London, Britain October 31, 2016. REUTERS/Stefan Wermuth
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
LONDON (Reuters) - British finance minister Philip Hammond said on Sunday he would aim to help struggling families and boost the country's long-term growth prospects when he announces Britain's first budget plans since the Brexit vote next week.
But Hammond also told BBC television that levels of public debt were "eye-wateringly" high and he would not be announcing a big increase in public spending.
"We've got to make sure that the prosperity that comes from seizing opportunities ahead is shared across the country and across the income distribution," he said, echoing promises by Prime Minister Theresa May to work for "just managing" families.
Hammond told the BBC that the government was keeping an open mind about its options for leaving the EU, downplaying suggestions from Britain's foreign minister Boris Johnson that the country should leave the EU's customs union.
(Writing by William Schomberg; editing by Elizabeth Piper)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Egypt's Museum of Islamic Art welcomes first visitors since 2014 bombing
- Israel's Netanyahu to speak with Trump on Sunday, Iran on agenda
- Islamic State blows up Mosul hotel to prevent Iraqi forces using it
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!