Britain's Kwarteng: We need to focus on growth, not redistribution

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Britain's Chancellor of the Exchequer Kwasi Kwarteng Kwarteng to deliver mini-budget

LONDON (Reuters) - British finance minister Kwasi Kwarteng said on Friday it was time now to focus on economic growth instead of redistribution, as he laid out tax cuts and other measures in a speech to lawmakers.

"For too long in this country, we have indulged in a fight over redistribution. Now, we need to focus on growth, not just how we tax and spend," Kwarteng said.

"We won’t apologise for managing the economy in a way that increases prosperity and living standards. Our entire focus is on making Britain more globally competitive - not losing out to our competitors abroad."

(Reporting by Sachin Ravikumar; Editing by Kate Holton)