Britain's Kwarteng: We need to focus on growth, not redistribution

© Reuters. Britain’s Chancellor of the Exchequer Kwasi Kwarteng walks outside Downing Street in London, Britain, September 23, 2022. REUTERS/Maja Smiejkowska

LONDON (Reuters) – British finance minister Kwasi Kwarteng said on Friday it was time now to focus on economic growth instead of redistribution, as he laid out tax cuts and other measures in a speech to lawmakers.

“For too long in this country, we have indulged in a fight over redistribution. Now, we need to focus on growth, not just how we tax and spend,” Kwarteng said.

“We won’t apologise for managing the economy in a way that increases prosperity and living standards. Our entire focus is on making Britain more globally competitive – not losing out to our competitors abroad.”