UK finance minister says growth plan will address challenges as economy shrinks

LONDON (Reuters) – Britain’s finance minister Kwasi Kwarteng said on Wednesday that the government’s growth plan will address the challenges faced by the country after the latest data showed the economy had shrunk.

“Our Growth Plan will address the challenges that we face with ambitious supply-side reforms and tax cuts, which will grow our economy, create more well-paid skilled jobs and in turn raise living standards for everyone,” Kwarteng said in a statement.

(Reporting by Farouq Suleiman; editing by Sarah Young)