S&P's Kraemer Says Brexit Friction Has Yet to Surface

The video discusses the implications of the DUP's involvement in Brexit negotiations, emphasizing the importance of tone and the potential impact on trade with Ireland. It highlights the challenges in reaching a Brexit agreement due to ongoing negotiations with the DUP. The discussion shifts to the UK budget, noting that austerity measures have reduced the deficit significantly, allowing for potential economic restructuring. The video concludes with a focus on the need for changes in public spending and the tax system.

What is the current state of austerity in the United Kingdom according to the speaker?

How has the government's approach to public spending and the tax system changed in light of the deficit reduction?