Rishi Sunak says ‘tough decisions’ are needed as ‘inevitable tax rises’ loom amid financial statement talks
the next few years are going to be rough, and a rise in taxes is necessary in order to maintain public services as massive borrowing for energy bill support and the Covid-19 pandemic has caused “a fiscal black hole”. Last month, Chancellor Hunt said the government was required to make “eye-watering” decisions to restore the faith in public finances.until November 17, hoping for a more positive economic outlook.
Prime minister Rishi Sunak and Chancellor Jeremy Hunt have said “tough decisions” are needed on upcoming tax rises. Other measures Hunt and Sunak are reportedly considering include ending the pensions triple lock and stopping the rise of benefits to match inflation, which could save the government £9 billion. But it is understood that increases in income tax, VAT and
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