UK chancellor confirms country is in recession

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Transfixed, ordinary Britons stand glued to their screens, waiting the news to sink in. After weeks of will he, will he not? The UK's new chancellor has announced his economic plan for the country. Except for a couple of surprise rabbits out of the hat such as a bit of more spending in the health and educations sectors, it was what everyone had expected: tax hikes and spending cuts aimed at plugging a nearly 65bn dollar hole in public finances created by the previous Conservative government only two months ago.

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