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Britain's new finance minister warns of tax hikes

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British Finance Minister Jeremy Hunt warns of “some very difficult decisions ahead” after “mistakes” made by his short-lived predecessor in a disastrous budget

Jeremy Hunt warns"all government departments" face spending restraint in first comments to media following his recent appointment as chancellor of the exchequer by Prime Minister Liz Truss.

UK's new finance minister has warned of tax hikes to come as he admitted to "mistakes" made by his short-lived predecessor in a disastrous budget. "We will have some very difficult decisions ahead," Hunt told Sky News, warning that "all government departments" face spending restraint.READ MORE: Tax cuts were the centrepiece of the budget announced by Hunt's predecessor Kwasi Kwarteng on September 23. But they were financed through billions in more borrowing, causing panic on financial markets which has fed into higher costs for British households.

 

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