U.K. Shelves Austerity in First Spending Plan Since Brexit Vote.

LONDON — After years of tough spending curbs, Britain’s government on Wednesday cast aside the language of austerity as it acknowledged the high economic cost of withdrawal from the European Union, and tried to placate struggling working-class families whose incomes have stagnated.

A pledge by the previous chancellor of the Exchequer, or finance minister, George Osborne, to balance the budget by 2020 has been shelved. Instead, the current chancellor, Philip Hammond, is replacing it with a vaguer ambition to do so as soon as practical after 2020.

Help for workers whose low earnings are supplemented by welfare payments, an increase in the minimum wage and new infrastructure spending were features of the first Autumn Statement, or spending plan, from Mr. Hammond, who became chancellor in July.

Changes were centered on a section of society identified by Prime Minister Theresa May as those “just about managing,” also referred to as JAMs, who are thought to have voted in large numbers for British withdrawal from the European Union, or Brexit, in the June 23 referendum.'>>>

http://www.nytimes.com/2016/11/23/world/europe/uk-philip-hammond-autumn-statement-brexit.html?