UK Prime Minister Starmer announces 'painful' first budget

UK Prime Minister Keir Starmer has announced that the country's first budget under his leadership will be 'painful,' as the government faces a £22 billion financing shortfall. Starmer plans to address this shortfall through measures such as closing tax loopholes and introducing a windfall tax on oil and gas firms.

He also aims to strengthen the powers of the water regulator and impose tough fines on water companies that have polluted rivers and seas. Starmer acknowledges that difficult decisions will need to be made and warns of the negative impact of making people feel miserable, which could depress business and consumer confidence.

However, he is determined to deliver tangible change and improve public trust before voter patience runs out. While facing pushback from critics and challenges within his own party, Starmer is focused on tackling the country's problems and navigating the economic situation and high inflation.

He is also expected to make a state visit to Chancellor Olaf Scholz in Berlin to discuss policy and strengthen international relations.