LONDON: Britain’s new finance minister on Saturday warned of a tax hike as he acknowledged “mistakes” made by his short-lived predecessor in a disastrous budget.
Jeremy Hunt was making his first remarks to the media after the Prime Minister’s appointment as Chancellor of the Exchequer liz trussWhose own future is in doubt only a few weeks after he took office.
“We will have some very difficult decisions ahead of us,” to hunt told Sky News, warned that “all government departments” face spending restraints.
“And some taxes will not be cut as quickly as people want. Some taxes will go up,” he said.
Tax cuts were the focus of the budget announced by Hunt’s predecessor. quasi quartengo on 23 September. But they were financed through billions in excess borrowing, causing panic in financial markets. irrigated High cost to British families.
Truss removed Quarteng It backtracked further on Friday on further planned tax cuts, but faces threats of being toppled by senior Conservative lawmakers as opinion polls turn the party’s collapse boris johnson on 6 september
“There were mistakes,” admitted Hunt, a former health and foreign secretary seen as a centrist Tory brought in by Truss to stabilize his listing ship.
Quarteng and Truss initially wanted to cut taxes for the highest earners, and presented their budget without independent forecasts from the Office of Budget Responsibility, Hunt summarizing two major mistakes.
“The prime minister has recognized it, so here I am.”
Jeremy Hunt was making his first remarks to the media after the Prime Minister’s appointment as Chancellor of the Exchequer liz trussWhose own future is in doubt only a few weeks after he took office.
“We will have some very difficult decisions ahead of us,” to hunt told Sky News, warned that “all government departments” face spending restraints.
“And some taxes will not be cut as quickly as people want. Some taxes will go up,” he said.
Tax cuts were the focus of the budget announced by Hunt’s predecessor. quasi quartengo on 23 September. But they were financed through billions in excess borrowing, causing panic in financial markets. irrigated High cost to British families.
Truss removed Quarteng It backtracked further on Friday on further planned tax cuts, but faces threats of being toppled by senior Conservative lawmakers as opinion polls turn the party’s collapse boris johnson on 6 september
“There were mistakes,” admitted Hunt, a former health and foreign secretary seen as a centrist Tory brought in by Truss to stabilize his listing ship.
Quarteng and Truss initially wanted to cut taxes for the highest earners, and presented their budget without independent forecasts from the Office of Budget Responsibility, Hunt summarizing two major mistakes.
“The prime minister has recognized it, so here I am.”