{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Britain faces higher taxes and spending cuts after Brexit vote – finance minister' data-url='/boclips/videos/6878f876860c8396ee54d930' data-video-url='/boclips/videos/6878f876860c8396ee54d930' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nBritain faces higher taxes and spending cuts after Brexit vote – finance minister\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eThe price of Britain leaving the European Union will be higher taxes and government spending cuts according to finance minister George Osborne. He followed through on his pre-vote warnings by saying there will have to be more austerity...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eThe price of Britain leaving the European Union will be higher taxes and government spending cuts according to finance minister George Osborne.\u003cbr/\u003e\u003cbr/\u003e He followed through on his pre-vote warnings by saying there will have to be more austerity to reflect the fact that the UK “is going to be poorer”.\u003cbr/\u003e\u003cbr/\u003e Osborne – a leading campaigner against Brexit – tried to cover all the bases: “My message today is both one of realism and reassurance. Realism about the economic challenge the country now faces. Reassurance that we’re about as well-placed as we possibly could be in the economy to meet that challenge because of the work of recent years rebuilding our country’s economic strength.”\u003cbr/\u003e\u003cbr/\u003e  “We didn’t get it all right,” says Osborne, on UK economy post-EU referendum. Full \u003ca href='https://t.co/TmoPRzEkLh' target='_blank' rel='nofollow'\u003epodcast\u003c/a\u003e pic.twitter.com/VSgIhSYt9Z— BBC Radio 4 Today (@BBCr4today) June 28, 2016\u003cbr/\u003e\u003cbr/\u003e Shares and the pound bounce back a bit\u003cbr/\u003e\u003cbr/\u003e As Osborne spoke at a conference of company chief executives hosted by The Times newspaper, share prices in London and around Europe regained some of the losses they have suffered since Britain’s shock vote to quit the EU.\u003cbr/\u003e\u003cbr/\u003e Banks were among the biggest gainers. Britain’s Lloyds and Barclays jumped 6.8 and 4 percent respectively. Italy’s UniCredit was up 3 percent and Spain’s Bankia surged 8.89 percent.\u003cbr/\u003e\u003cbr/\u003e “After a few days of a lot of volatility, it looks like we have found some stability,” said TD Securities’ European Head of Currency Strategy Ned Rumpeltin.\u003cbr/\u003e\u003cbr/\u003e Even so, the lack of clarity over how a British exit from the EU will proceed could fuel volatility in the weeks to come.\u003cbr/\u003e\u003cbr/\u003e “I think this is a short-lived rally,” said Paul Nolte, portfolio manager as Kingsview Asset Management.\u003cbr/\u003e\u003cbr/\u003e The pound rose one percent against the dollar on Tuesday following its record two-day loss. \u003cbr/\u003e\u003cbr/\u003e The euro also nudged up versus the dollar having dropped to a three-month low after the vote.\u003cbr/\u003e\u003cbr/\u003e Analysts said one reason for the improvement was that investors expect there will be coordinated intervention by central banks to cut interest rates even more deeply into negative territory.\u003cbr/\u003e\u003cbr/\u003e But that is a double edged sword as the profits of already struggling banks will come under further pressure from lower borrowing costs.\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eCurator Rating\u003c/dt\u003e\n\u003cdd\u003e\u003cspan class=\"star-rating\" aria-label=\"3.5 out of 5 stars\" role=\"img\"\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid fa-star-half-stroke text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-regular fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003c/span\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt class=\"educator-rating-title\"\u003eEducator Rating\u003c/dt\u003e\u003cdd\u003e\u003cdiv class=\"educator-rating-details\" data-path=\"/educator_ratings/rrp_data?resourceable_id=91033778\u0026amp;resourceable_type=Boclips%3A%3AVideoMetadata\"\u003e\u003cspan class=\"not-yet-rated\"\u003eNot yet Rated\u003c/span\u003e\u003c/div\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eMedia Length\u003c/dt\u003e\n\u003cdd\u003e1:10\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eGrade\u003c/dt\u003e\u003cdd title=\"Grade\"\u003e9th - Higher Ed\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eSubjects\u003c/dt\u003e\u003cdd\u003e\u003cspan\u003e\u003ca href=\"/search?grade_ids%5B%5D=259\u0026amp;grade_ids%5B%5D=255\u0026amp;grade_ids%5B%5D=256\u0026amp;grade_ids%5B%5D=257\u0026amp;grade_ids%5B%5D=258\u0026amp;search_tab_id=1\u0026amp;subject_ids%5B%5D=358379\"\u003eSocial Studies \u0026amp; 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