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IMF/WB Annual Meetings - Washington

British Chancellor of the Exchequer Rachel Reeves participates in IMF/World Bank Annual Meetings in Washington on October 16, 2024. Photo by Yuri Gripas/ABACAPRESS.COM

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IMF/WB Annual Meetings - Washington

British Chancellor of the Exchequer Rachel Reeves participates in IMF/World Bank Annual Meetings in Washington on October 16, 2024. Photo by Yuri Gripas/ABACAPRESS.COM

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IMF/WB Annual Meetings - Washington

British Chancellor of the Exchequer Rachel Reeves participates in IMF/World Bank Annual Meetings in Washington on October 16, 2024. Photo by Yuri Gripas/ABACAPRESS.COM

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Macron and Starmer at Downing Street for UK-FR Summit - London

Britain's Prime Minister Keir Starmer and France's President Emmanuel Macron pose for a family photo with French Minister for Europe and Foreign Affairs Jean-Noel Barrot, Rachel Reeves, Chancellor of the Exchequer, Britain's Defence Secretary John Healey, French Minister of Armed Forces Sebastien Lecornu, Britain's Secretary of State for Energy Security and Net Zero Ed Miliband, French Interior Minister Bruno Retailleau during the UK-France Summit at 10 Downing Street in London, as part of his three-day state visit to the United Kingdom, Britain, July 10, 2025. Photo by Gonzalo Fuentes/Pool/ABACAPRESS.COM

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Macron and Starmer at Downing Street for UK-FR Summit - London

France's President Emmanuel Macron adjusts his tie as he poses for a family photo with Britain's Prime Minister Keir Starmer, French Minister for Europe and Foreign Affairs Jean-Noel Barrot, Rachel Reeves, Chancellor of the Exchequer, French Interior Minister Bruno Retailleau, Britain's Defence Secretary John Healey, French Minister of Armed Forces Sebastien Lecornu, Britain's Secretary of State for Energy Security and Net Zero Ed Miliband during the UK-France Summit at 10 Downing Street in London, as part of his three-day state visit to the United Kingdom, Britain, July 10, 2025. Photo by Gonzalo Fuentes/Pool/ABACAPRESS.COM

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IMFC plenary at IMF/World Bank meeting - Washington

Federal Reserve Chairman Jerome Powell and British Chancellor of the Exchequer Rachel Reeves at IMFC plenary during the IMF/World Bank Spring Meetings in Washington on April 25, 2025. Photo by Yuri Gripas/ABACAPRESS.COM

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IMF/World Bank Spring meetings - Washington

British Chancellor of the Exchequer Rachel Reeves participates in the Debate on the Global Economy during the IMF/World Bank Spring Meetings in Washington on April 24, 2025. Photo by Yuri Gripas/ABACAPRESS.COM

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Antoine Armand at IMF/WB Annual Meetings - Washington

British Chancellor of the Exchequer Rachel Reeves participates in IMF/World Bank Annual Meetings in Washington on October 24, 2024. Photo by Yuri Gripas/ABACAPRESS.COM

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Antoine Armand at IMF/WB Annual Meetings - Washington

British Chancellor of the Exchequer Rachel Reeves participates in IMF/World Bank Annual Meetings in Washington on October 24, 2024. Photo by Yuri Gripas/ABACAPRESS.COM

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UK cuts national insurance contributions for workers in spring budget

STORY: UK cuts national insurance contributions for workers in spring budget SHOOTING TIME: March 6, 2024 DATELINE: March 7, 2024 LENGTH: 00:03:35 LOCATION: London CATEGORY: SOCIETY SHOTLIST: 1. various of UK parliament (UK Parliament TV) 2. SOUNDBITE 1 (English): JEREMY HUNT, UK Chancellor of the Exchequer (UK Parliament TV) 3. SOUNDBITE 2 (English): JEREMY HUNT, UK Chancellor of the Exchequer (UK Parliament TV) 4. various of London streets and people STORYLINE: The United Kingdom's (UK) Chancellor of the Exchequer Jeremy Hunt on Wednesday announced in his spring budget that National Insurance contributions would be cut for 27 million British workers. SOUNDBITE 1 (English): JEREMY HUNT, UK Chancellor of the Exchequer "As from April 6th, employees' National Insurance will be cut by another 2 percent, from 10 percent to 8 percent. And self-employed national insurance will be cut from 8 percent to 6 percent. It means an additional 450 pounds (573 U.S. dollars) a year for the average employee or 350 pounds f

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XINHUA PHOTOS OF THE DAY

(240307) -- BEIJING, March 7, 2024 (Xinhua) -- The United Kingdom's (UK) Chancellor of the Exchequer Jeremy Hunt poses for photographs as he leaves 11 Downing Street to deliver his budget to Parliament in London, Britain, on March 6, 2024. The United Kingdom's (UK) Chancellor of the Exchequer Jeremy Hunt on Wednesday announced in his spring budget that National Insurance contributions would be cut for 27 million British workers. (Xinhua)

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BRITAIN-LONDON-CHANCELLOR OF THE EXCHEQUER-BUDGET

(240306) -- LONDON, March 6, 2024 (Xinhua) -- The United Kingdom's (UK) Chancellor of the Exchequer Jeremy Hunt (2nd L) poses for photographs as he leaves 11 Downing Street to deliver his budget to Parliament in London, Britain, on March 6, 2024. The United Kingdom's (UK) Chancellor of the Exchequer Jeremy Hunt on Wednesday announced in his spring budget that National Insurance contributions would be cut for 27 million British workers. (Xinhua)

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BRITAIN-LONDON-CHANCELLOR OF THE EXCHEQUER-BUDGET

(240306) -- LONDON, March 6, 2024 (Xinhua) -- The United Kingdom's (UK) Chancellor of the Exchequer Jeremy Hunt poses for photographs as he leaves 11 Downing Street to deliver his budget to Parliament in London, Britain, on March 6, 2024. The United Kingdom's (UK) Chancellor of the Exchequer Jeremy Hunt on Wednesday announced in his spring budget that National Insurance contributions would be cut for 27 million British workers. (Xinhua)

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BRITAIN-LONDON-CHANCELLOR OF THE EXCHEQUER-BUDGET

(240306) -- LONDON, March 6, 2024 (Xinhua) -- The United Kingdom's (UK) Chancellor of the Exchequer Jeremy Hunt poses for photographs as he leaves 11 Downing Street to deliver his budget to Parliament in London, Britain, on March 6, 2024. The United Kingdom's (UK) Chancellor of the Exchequer Jeremy Hunt on Wednesday announced in his spring budget that National Insurance contributions would be cut for 27 million British workers. (Xinhua)

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BRITAIN-LONDON-CHANCELLOR OF THE EXCHEQUER-BUDGET

(240306) -- LONDON, March 6, 2024 (Xinhua) -- The United Kingdom's (UK) Chancellor of the Exchequer Jeremy Hunt poses for photographs as he leaves 11 Downing Street to deliver his budget to Parliament in London, Britain, on March 6, 2024. The United Kingdom's (UK) Chancellor of the Exchequer Jeremy Hunt on Wednesday announced in his spring budget that National Insurance contributions would be cut for 27 million British workers. (Xinhua)

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BRITAIN-LONDON-CHANCELLOR OF THE EXCHEQUER-BUDGET

(240306) -- LONDON, March 6, 2024 (Xinhua) -- The United Kingdom's (UK) Chancellor of the Exchequer Jeremy Hunt poses for photographs as he leaves 11 Downing Street to deliver his budget to Parliament in London, Britain, on March 6, 2024. The United Kingdom's (UK) Chancellor of the Exchequer Jeremy Hunt on Wednesday announced in his spring budget that National Insurance contributions would be cut for 27 million British workers. (Xinhua)

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BRITAIN-LONDON-CHANCELLOR OF THE EXCHEQUER-BUDGET

(240306) -- LONDON, March 6, 2024 (Xinhua) -- The United Kingdom's (UK) Chancellor of the Exchequer Jeremy Hunt (1st R) leaves 11 Downing Street to deliver his budget to Parliament in London, Britain, on March 6, 2024. The United Kingdom's (UK) Chancellor of the Exchequer Jeremy Hunt on Wednesday announced in his spring budget that National Insurance contributions would be cut for 27 million British workers. (Xinhua)

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UK chancellor announces major tax cut to boost economic growth

STORY: UK chancellor announces major tax cut to boost economic growth SHOOTING TIME: Nov. 22, 2023/file DATELINE: Nov. 23, 2023 LENGTH: 00:03:00 LOCATION: London CATEGORY: ECONOMY SHOTLIST: 1. various of Downing Street No.11 (office of British Chancellor of the Exchequer) 3. SOUNDBITE (English): JEREMY HUNT, British Chancellor of the Exchequer (UK Parliament TV) 3. various of streets in London, NHS strikes and shops in Manchester (2023 files) STORYLINE: British Chancellor of the Exchequer Jeremy Hunt on Wednesday announced a package of tax cuts for businesses and workers, designed to boost the country's economic growth. SOUNDBITE (English): JEREMY HUNT, British Chancellor of the Exchequer "In today's Autumn Statement for Growth, our choice is not big government, high spending and high tax because we know that leads to less growth, not more. Instead, we reduce debt, cut taxes and reward work. The Office for Budget Responsibility said that the combined impact of these measures will raise business investment

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BRITAIN-TAX CUT-ECONOMIC GROWTH-BOOST

(231123) -- MANCHESTER, Nov. 23, 2023 (Xinhua) -- A homeless person lies at the doorway of a closed shop in Manchester, Britain, Nov. 22, 2023. British Chancellor of the Exchequer Jeremy Hunt on Wednesday announced a package of tax cuts for businesses and workers, designed to boost the country's economic growth. (Photo by Jon Super/Xinhua)

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BRITAIN-TAX CUT-ECONOMIC GROWTH-BOOST

(231123) -- MANCHESTER, Nov. 23, 2023 (Xinhua) -- A woman passes a closed restaurant in Manchester, Britain, Nov. 22, 2023. British Chancellor of the Exchequer Jeremy Hunt on Wednesday announced a package of tax cuts for businesses and workers, designed to boost the country's economic growth. (Photo by Jon Super/Xinhua)

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BRITAIN-TAX CUT-ECONOMIC GROWTH-BOOST

(231123) -- MANCHESTER, Nov. 23, 2023 (Xinhua) -- A woman passes a closed shop in Manchester, Britain, Nov. 22, 2023. British Chancellor of the Exchequer Jeremy Hunt on Wednesday announced a package of tax cuts for businesses and workers, designed to boost the country's economic growth. (Photo by Jon Super/Xinhua)

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BRITAIN-TAX CUT-ECONOMIC GROWTH-BOOST

(231123) -- MANCHESTER, Nov. 23, 2023 (Xinhua) -- A man passes a closing down shop in Manchester, Britain, Nov. 22, 2023. British Chancellor of the Exchequer Jeremy Hunt on Wednesday announced a package of tax cuts for businesses and workers, designed to boost the country's economic growth. (Photo by Jon Super/Xinhua)

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BRITAIN-MANCHESTER-CONSERVATIVE PARTY-ANNUAL CONFERENCE

(231004) -- MANCHESTER, Oct. 4, 2023 (Xinhua) -- Chancellor of the Exchequer Jeremy Hunt of the United Kingdom (UK) delivers a speech at the Conservative Party's annual conference in Manchester, Britain, Oct. 2, 2023. The Conservative Party's annual conference is held from Oct. 1 to 4. in Manchester. (Xinhua)

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BRITAIN-MANCHESTER-CONSERVATIVE PARTY-ANNUAL CONFERENCE

(231004) -- MANCHESTER, Oct. 4, 2023 (Xinhua) -- Chancellor of the Exchequer Jeremy Hunt (C) of the United Kingdom (UK) arrives for the Conservative Party's annual conference in Manchester, Britain, Oct. 2, 2023. The Conservative Party's annual conference is held from Oct. 1 to 4. in Manchester. (Xinhua)

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BRITAIN-MANCHESTER-CONSERVATIVE PARTY-ANNUAL CONFERENCE

(231004) -- MANCHESTER, Oct. 4, 2023 (Xinhua) -- Chancellor of the Exchequer Jeremy Hunt of the United Kingdom (UK) delivers a speech at the Conservative Party's annual conference in Manchester, Britain, Oct. 2, 2023. The Conservative Party's annual conference is held from Oct. 1 to 4. in Manchester. (Xinhua)

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UK expected to avoid recession in 2023: chancellor

STORY: UK expected to avoid recession in 2023: chancellor DATELINE: March 16, 2023 LENGTH: 00:03:35 LOCATION: London CATEGORY: ECONOMY SHOTLIST: 1. STANDUP (English): ZHAO XIUZHI, Xinhua correspondent 2. various of streets in London 3. SOUNDBITE 1 (English): JEREMY HUNT, Chancellor of the Exchequer 4. SOUNDBITE 2 (English): STEVE NOLAN, Lecturer in Economics at Liverpool Business School STORYLINE: STANDUP (English): ZHAO XIUZHI, Xinhua correspondent "The UK government on Wednesday unveiled its Spring Budget, trying to speed up its struggling economy. New policies include childcare reforms, tax cuts for businesses, and measures to ease the cost-of-living burden for households." The United Kingdom (UK) will avoid a technical recession this year and the inflation will fall to 2.9 percent by the end of 2023, Chancellor of the Exchequer Jeremy Hunt said on Wednesday. SOUNDBITE 1 (English): JEREMY HUNT, Chancellor of the Exchequer "Today the Office for Budget Responsibility (OBR) forecast that because of chang

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British business community eyes stronger trade ties with China

STORY: British business community eyes stronger trade ties with China DATELINE: Feb. 11, 2023 LENGTH: 00:02:16 LOCATION: London CATEGORY: ECONOMY SHOTLIST: 1. various of street scenes in Britain 2. SOUNDBITE 1 (English): LORD HAMMOND OF RUNNYMEDE, Former Chancellor of the Exchequer 3. SOUNDBITE 2 (English): SIR SHERARD COWPER-COLES, Chair of the China-Britain Business Council 4. SOUNDBITE 3 (English): STEPHEN PERRY, Chair of the 48 Group Club 5. various of street scenes in China STORYLINE: British business leaders have expressed hope that trade ties between Britain and China will deepen as the two countries work toward economic recovery from the COVID-19 pandemic. The remarks were made Wednesday during the "Icebreakers" 2023 Chinese New Year celebration, jointly hosted by the 48 Group Club, China Chamber of Commerce in the UK and China-Britain Business Council. SOUNDBITE 1 (English): LORD HAMMOND OF RUNNYMEDE, Former Chancellor of the Exchequer "China is the world's second-largest economy, the UK's sixt

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Celebratory reception in London ahead of Japan emperor's birthday

British Chancellor of the Exchequer Jeremy Hunt visits a booth introducing Japanese culture at a reception held at Japan House in London on Feb. 7, 2023, to celebrate Japanese Emperor Naruhito's 63rd birthday on Feb. 23.

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U.K. chancellor in China

SHENZHEN, China - British Chancellor of the Exchequer George Osborne (L) and Huawei Technologies Co. CEO Ren Zhengfei exchange words at the Chinese company's head office in Shenzhen, Guangdong Province, on Oct. 16, 2013.

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BOJ chief, British finance chief meet in Tokyo

TOKYO, Japan - Bank of Japan Governor Masaaki Shirakawa (R) and British Chancellor of the Exchequer George Osborne shake hands at the BOJ head office in Tokyo on Jan. 18, 2011. (Pool photo)

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G-8 finance ministers meet press prior to 2-day gathering

OSAKA, Japan - World Bank President Robert Zoellick (L), U.S. Treasury Secretary Henry Paulson (2nd from L), Japanese Finance Minister Fukushiro Nukaga (3rd from L) and British Chancellor of the Exchequer Alistair Darling hold a joint press conference in Osaka on June 13 prior to the opening of the Group of Eight finance ministers' meeting.

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Omi calls for debate on raising consumption tax rate

LONDON, England - Japanese Finance Minister Koji Omi speaks with reporters following his talks with British Chancellor of the Exchequer Gordon Brown in London on Jan. 11. Omi called for a debate in Japan on a possible hike in the consumption tax rate, saying that cutting expenditures alone will be insufficient for the country to restore its fiscal health.

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Keidanren's Okuda meets Brown, discusses Britain joining euro

LONDON, Japan - Hiroshi Okuda (L), chairman of the Japan Business Federation (Nippon Keidanren), talks with Chancellor of the Exchequer Gordon Brown at the Treasury in London on July 9.

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G-7 finance ministers in photo session

FUKUOKA, Japan - Finance ministers from the Group of Seven (G-7) major economic powers line up for a photograph at Fukuoka City Museum. From left to right, EU Commissioner for Economic and Monetary Affairs Pedro Solbes Mira, U.S. Treasury Secretary Lawrence Summers, French Minister of Economy, Finance and Industry Laurent Fabius, Canadian Finance Minister Paul Martin, Japanese Finance Minister Kiichi Miyazawa, British Chancellor of the Exchequer Gordon Brown, German Finance Minister Hans Eichel and Italian Minister of the Treasury Vincenzo Visco. Behind the ministers stands a decorated ''Kazari-Yamagasa'' float, centerpiece of the city's July 1-15 Hakata Gion Yamagasa Festival in which several floats are raced.

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Miyazawa meets Brown in Tokyo

Japan's Finance Minister Kiichi Miyazawa (L) meets British Chancellor of the Exchequer Gordon Brown in Tokyo on Sept. 16. Miyazawa said he agreed with Brown on the need to explore ways among the Group of Seven (G-7) industrialized nations to stabilize global financial markets.

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BRITAIN-LONDON-CHANCELLOR OF THE EXCHEQUER-AUTUMN STATEMENT 2022

(221117) -- LONDON, Nov. 17, 2022 (Xinhua) -- Chancellor of the Exchequer Jeremy Hunt of the United Kingdom (UK) leaves 11 Downing Street in London, Britain, on Nov. 17, 2022. Jeremy Hunt on Thursday announced a package of tax hikes and spending cuts worth 55 billion British pounds (65 billion U.S. dollars) in a bid to improve the public finances and restore the country's economic credibility. (Xinhua)

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BRITAIN-LONDON-CHANCELLOR OF THE EXCHEQUER-AUTUMN STATEMENT 2022

(221117) -- LONDON, Nov. 17, 2022 (Xinhua) -- Chancellor of the Exchequer Jeremy Hunt of the United Kingdom (UK) leaves 11 Downing Street in London, Britain, on Nov. 17, 2022. Jeremy Hunt on Thursday announced a package of tax hikes and spending cuts worth 55 billion British pounds (65 billion U.S. dollars) in a bid to improve the public finances and restore the country's economic credibility. (Xinhua)

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BRITAIN-LONDON-CHANCELLOR OF THE EXCHEQUER-AUTUMN STATEMENT 2022

(221117) -- LONDON, Nov. 17, 2022 (Xinhua) -- Chancellor of the Exchequer Jeremy Hunt of the United Kingdom (UK) leaves 11 Downing Street in London, Britain, on Nov. 17, 2022. Jeremy Hunt on Thursday announced a package of tax hikes and spending cuts worth 55 billion British pounds (65 billion U.S. dollars) in a bid to improve the public finances and restore the country's economic credibility. (Xinhua)

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British PM Sunak vows to "fix mistakes," restore economic stability

STORY: British PM Sunak vows to "fix mistakes," restore economic stability DATELINE: Oct. 26, 2022 LENGTH: 0:04:04 LOCATION: London CATEGORY: POLITICS SHOTLIST: 1. STANDUP 1 (English): ZHAO XIAONA, Xinhua correspondent 2. various of Sunak 3. SOUNDBITE 1 (English): RISHI SUNAK, British Prime Minister 4. SOUNDBITE 2 (English): RISHI SUNAK, British Prime Minister 5. various of UK 6. SOUNDBITE 3 (English): GARY RICHARDSON, London resident 7. SOUNDBITE 4 (English): TOM HOWELL, London resident STORYLINE: STANDUP 1 (English): ZHAO XIAONA, Xinhua correspondent "Rishi Sunak became Britain's new prime minister on Tuesday after meeting King Charles III in Buckingham Palace, where he was asked by the monarch to form a government after the resignation of Liz Truss. Sunak, Britain's former chancellor of the exchequer, won the ruling Conservative Party's leadership contest on Monday. Sunak, 42, is the first person of Indian origin to become the British prime minister. He is also the youngest prime minister in the country

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BRITAIN-LONDON-NEW PM-FIRST ADDRESS

(221025) -- LONDON, Oct. 25, 2022 (Xinhua) -- Britain's new Prime Minister Rishi Sunak waves to the crowd after delivering his first address to the nation outside 10 Downing Street in London, Britain, Oct. 25, 2022. Rishi Sunak became Britain's new prime minister on Tuesday after meeting King Charles III in Buckingham Palace, where the monarch asked him to form a government after the resignation of Liz Truss. Sunak, Britain's former chancellor of the exchequer, won the ruling Conservative Party's leadership race on Monday. (Xinhua/Li Ying)

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BRITAIN-LONDON-NEW PM-FIRST ADDRESS

(221025) -- LONDON, Oct. 25, 2022 (Xinhua) -- Britain's new Prime Minister Rishi Sunak delivers his first address to the nation outside 10 Downing Street in London, Britain, Oct. 25, 2022. Rishi Sunak became Britain's new prime minister on Tuesday after meeting King Charles III in Buckingham Palace, where the monarch asked him to form a government after the resignation of Liz Truss. Sunak, Britain's former chancellor of the exchequer, won the ruling Conservative Party's leadership race on Monday. (Xinhua/Li Ying)

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BRITAIN-LONDON-NEW PM-FIRST ADDRESS

(221025) -- LONDON, Oct. 25, 2022 (Xinhua) -- Britain's new Prime Minister Rishi Sunak delivers his first address to the nation outside 10 Downing Street in London, Britain, Oct. 25, 2022. Rishi Sunak became Britain's new prime minister on Tuesday after meeting King Charles III in Buckingham Palace, where the monarch asked him to form a government after the resignation of Liz Truss. Sunak, Britain's former chancellor of the exchequer, won the ruling Conservative Party's leadership race on Monday. (Xinhua/Li Ying)

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BRITAIN-LONDON-NEW PM-FIRST ADDRESS

(221025) -- LONDON, Oct. 25, 2022 (Xinhua) -- Britain's new Prime Minister Rishi Sunak waves to the crowd after delivering his first address to the nation outside 10 Downing Street in London, Britain, Oct. 25, 2022. Rishi Sunak became Britain's new prime minister on Tuesday after meeting King Charles III in Buckingham Palace, where the monarch asked him to form a government after the resignation of Liz Truss. Sunak, Britain's former chancellor of the exchequer, won the ruling Conservative Party's leadership race on Monday. (Xinhua/Li Ying)

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BRITAIN-LONDON-NEW PM-FIRST ADDRESS

(221025) -- LONDON, Oct. 25, 2022 (Xinhua) -- Britain's new Prime Minister Rishi Sunak delivers his first address to the nation outside 10 Downing Street in London, Britain, Oct. 25, 2022. Rishi Sunak became Britain's new prime minister on Tuesday after meeting King Charles III in Buckingham Palace, where the monarch asked him to form a government after the resignation of Liz Truss. Sunak, Britain's former chancellor of the exchequer, won the ruling Conservative Party's leadership race on Monday. (Xinhua/Li Ying)

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BRITAIN-LONDON-NEW PM-FIRST ADDRESS

(221025) -- LONDON, Oct. 25, 2022 (Xinhua) -- Britain's new Prime Minister Rishi Sunak delivers his first address to the nation outside 10 Downing Street in London, Britain, Oct. 25, 2022. Rishi Sunak became Britain's new prime minister on Tuesday after meeting King Charles III in Buckingham Palace, where the monarch asked him to form a government after the resignation of Liz Truss. Sunak, Britain's former chancellor of the exchequer, won the ruling Conservative Party's leadership race on Monday. (Xinhua/Li Ying)

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BRITAIN-LONDON-NEW PM-FIRST ADDRESS

(221025) -- LONDON, Oct. 25, 2022 (Xinhua) -- Britain's new Prime Minister Rishi Sunak waves to the crowd after delivering his first address to the nation outside 10 Downing Street in London, Britain, Oct. 25, 2022. Rishi Sunak became Britain's new prime minister on Tuesday after meeting King Charles III in Buckingham Palace, where the monarch asked him to form a government after the resignation of Liz Truss. Sunak, Britain's former chancellor of the exchequer, won the ruling Conservative Party's leadership race on Monday. (Xinhua/Li Ying)

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BRITAIN-LONDON-NEW PM-FIRST ADDRESS

(221025) -- LONDON, Oct. 25, 2022 (Xinhua) -- Britain's new Prime Minister Rishi Sunak delivers his first address to the nation outside 10 Downing Street in London, Britain, Oct. 25, 2022. Rishi Sunak became Britain's new prime minister on Tuesday after meeting King Charles III in Buckingham Palace, where the monarch asked him to form a government after the resignation of Liz Truss. Sunak, Britain's former chancellor of the exchequer, won the ruling Conservative Party's leadership race on Monday. (Xinhua/Li Ying)

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BRITAIN-LONDON-NEW PM-FIRST ADDRESS

(221025) -- LONDON, Oct. 25, 2022 (Xinhua) -- Britain's new Prime Minister Rishi Sunak delivers his first address to the nation outside 10 Downing Street in London, Britain, Oct. 25, 2022. Rishi Sunak became Britain's new prime minister on Tuesday after meeting King Charles III in Buckingham Palace, where the monarch asked him to form a government after the resignation of Liz Truss. Sunak, Britain's former chancellor of the exchequer, won the ruling Conservative Party's leadership race on Monday. (Xinhua/Li Ying)

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BRITAIN-LONDON-NEW PM-FIRST ADDRESS

(221025) -- LONDON, Oct. 25, 2022 (Xinhua) -- Britain's new Prime Minister Rishi Sunak delivers his first address to the nation outside 10 Downing Street in London, Britain, Oct. 25, 2022. Rishi Sunak became Britain's new prime minister on Tuesday after meeting King Charles III in Buckingham Palace, where the monarch asked him to form a government after the resignation of Liz Truss. Sunak, Britain's former chancellor of the exchequer, won the ruling Conservative Party's leadership race on Monday. (Xinhua/Li Ying)

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New British PM to face economic challenges, political chaos

STORY: New British PM to face economic challenges, political chaos DATELINE: Oct. 25, 2022 LENGTH: 00:02:56 LOCATION: London CATEGORY: POLITICS SHOTLIST: 1. various of landmark of London 2. SOUNDBITE 1 (English): RISHI SUNAK 3. SOUNDBITE 2 (English): IAIN BEGG, Political expert at London School of Economics and Political Science 4. various of street views of London 5. SOUNDBITE 3 (English): JOLYON, Local resident 6. SOUNDBITE 4 (English): ARMYN, Local resident STORYLINE: Rishi Sunak, Britain's former chancellor of the exchequer, has won the ruling Conservative Party's leadership contest. He replaces Liz Truss as the prime minister, the third this year, at a time of economic challenges and political turbulence. In his first public address on Monday as the leader of the governing Conservative Party and soon-to-be prime minister, Sunak admitted that Britain is facing "a profound economic challenge." SOUNDBITE 1 (English): RISHI SUNAK "There is no doubt we face a profound economic challenge. We now need sta