MOSCOW, November 22 – RIA Novosti. Experts told RIA Novosti that British Treasury Secretary Jeremy Hunt’s plan to stabilize the economic situation in the country is unlikely to restore voters’ confidence in the Conservative Party.

Hunt presented the government’s medium-term fiscal plan to stabilize the economy in Parliament last week. The measures presented in it include spending cuts and tax increases of 55 billion pounds.

“It’s hard to see how fiscal measures alone will rein in inflation, as the government itself says that inflation is largely driven by supply shocks from geopolitical events,” said Patrick Diamond, professor of public policy at Queen Mary University of London. The expert noted that reducing domestic consumption and demand through high taxes may drag the economy further into recession.

According to him, the Conservative Party has lost public economic confidence in recent months and the standard of living will not return to pre-pandemic levels until 2028.

Mark Garnett, Senior Lecturer in Politics, Philosophy and Religion at Lancaster University, also believes that “Conservatives have lost their reputation for being economically competent and it is difficult to see how they will be able to bring that back before the next general election.”