Last week, the British government announced a £45 billion plan to cut taxes. To do this, the government will need to borrow huge sums of money. This sent shockwaves through markets and drove the pound to a historic low against the US dollar. On Monday, £1 pound would get you just $1.03.
Watch this explainer to find out more about why the British economy is in such a state. Report by Braybrooks. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
