UK Government Announces Public Spending Cuts

In Taiwan, proposed budget cuts by opposition lawmakers could disrupt government functions significantly, affecting areas such as tourism and national defense. The Mainland Affairs Council warned that it may not be able to process applications from Chinese nationals, impacting around 365,000 families with Chinese spouses and thousands of students from Hong Kong and Macau. The Deputy Minister of National Defense highlighted that the cuts could lead to a 44% reduction in military funding, threatening national security. Meanwhile, in the UK, ministers signaled impending spending cuts as a response to rising government borrowing costs and a volatile economy. Chief Secretary Darren Jones indicated that public departments would need to identify savings to focus on government priorities, with no plans for an emergency budget in March. Inflation figures showed slight improvement, but businesses remain concerned about the impact of previous tax hikes on growth.