Nothing can be considered off the table, Britain’s newly appointed finance minister says of prime minister’s controversial tax-cut plan
Chancellor of the exchequer Jeremy Hunt. Picture: BLOOMBERG
On Friday, having already reversed two planned tax cuts, Truss requested that the newly appointed Hunt stick to the remaining measures in her fiscal plan. By Saturday, Hunt made clear that calming the markets is his priority; on Sunday he refused to rule out abandoning another of Truss’s key policies. Truss and Hunt were due to meet on Sunday at Chequers, the prime minister’s country residence in Buckinghamshire.
“I was in the cabinet in 2010 when we had that first period of austerity. I don’t think we’re going to have anything like that this time,” Hunt said, adding this is a “compassionate” Conservative government that will take care of the most vulnerable. Robert Halfon, who chairs parliament’s education committee, told Sky News on Sunday that the government “has looked like libertarian jihadists” and “treated the whole country” as “laboratory mice”. But he stopped short of calling for Truss to quit. Former cabinet minister Matt Hancock told the BBC that Truss should reshuffle her top team of ministers.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UK's new finance minister admits taxes to rise as PM reelsBritain's new finance minister Saturday warned of looming tax hikes as he admitted to 'mistakes' made in a disastrous budget that still threatens to bring down Prime Minister Liz Truss.
Read more »
Business Maverick: Truss Dumps UK Corporation Tax Freeze Plan After Firing AllyLiz Truss scrapped her plan to freeze corporation tax next year in another dramatic U-turn, hours after she fired her ally Kwasi Kwarteng and replaced him with Jeremy Hunt as UK Chancellor of the Exchequer.
Read more »
Product labelling, directory scammers and minimum spend rules — Wendy Knowler’s 'watch-outs of the week'It may be sold in a fridge, but it can’t be labelled “fresh” if it’s spent time in a freezer.
Read more »
‘Difficult decisions’ on tax and spending lie ahead, says UK's HuntThe country's new chancellor faces a huge challenge to calm markets
Read more »
UK’s Truss fires Kwarteng, scraps parts of economic package in bid to stay in powerKwasi Kwarteng said he resigned at Truss’s request after being forced to rush back to London overnight from IMF meetings in Washington.
Read more »
UK’s Truss fires Kwarteng, scraps parts of economic package in bid to stay in powerKwasi Kwarteng said he resigned at Truss’s request after being forced to rush back to London overnight from IMF meetings in Washington.
Read more »