BoE's Bailey says agrees with Hunt on need to fix financesLONDON, Oct 15 - Britain's new finance minister Jeremy Hunt said on Saturday some taxes would go up and tough spending decisions were needed, saying Prime Minister Liz Truss had made mistakes as she battles to keep her job just over a month into her term.fired Kwasi Kwarteng
She has now ditched plans to cut tax for high earners, and said a levy on business would increase, abandoning her proposal to keep it at current levels. But aThe Sunday Times said Hunt would delay a planned cut to the basic rate of income tax as part of a desperate bid to balance the books. According to the newspaper, Britain's independent fiscal watchdog said in a draft forecast there could be a 72 billion pound black hole in public finances by 2027/28.
"Giving certainty over public finances, how we're going to pay for every penny that we get through the tax and spending decisions we make, those are very, very important ways that I can give certainty and help create the stability," he said. "There were some mistakes made in the last few weeks. That's why I'm sitting here. It was a mistake to cut the top rate of tax at a period when we're asking everyone to make sacrifices," he said.
Hunt said Truss should be judged at an election and on her performance over the next 18 months - not the last 18 days.
Terrible pick. This authoritatian globalists policies will trash the UK economy. The UK should function like singapore not go high tax to cover the governments ridiculous spending habits on mass immigration etc.
lmao, conservatives really only know how to push one button that says 'cut public funding, give tax cuts to the rich'
Brexit or Bracket
Measures that hurt Russia economically and damage own interests are sacrifices, not sanctions. Both are useless in stopping wars.
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UK's Truss sacrifices finance minister, scraps tax plan in fight to surviveBritish Prime Minister Liz Truss fired her finance minister Kwasi Kwarteng and scrapped parts of their economic package in a desperate bid to stay in power and survive the market and political turmoil gripping the country 🤣it's like pilot error..... remember her 1st statement about countering China... 1st comment should always for your people not others if do then it's not deserved candidate...only RISHI that's only option they have for best .... JUST HAVE FAITH ON INDIAN MIND ND NEVER REGRET Lol!
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Jeremy Hunt appointed as Britain's new finance minister – TimesFormer British foreign minister Jeremy Hunt has been appointed as the new finance minister by Prime Minister Liz Truss, Times Political Editor Steven
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