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New UK finance minister warns some taxes will rise as tough decisions loom

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Jeremy Hunt said tax increases are on the cards to restore Britain's economic policy credibility. Read more at straitstimes.com.

LONDON - Britain's new finance minister Jeremy Hunt said on Saturday that some taxes would go up and government spending would rise by less than previously planned as he warned of difficult decisions ahead to restore Britain's economic policy credibility.and scrapped parts of their controversial economic package on Friday in a bid for political survival less than 40 days into her premiership.

"Some taxes will not be cut as quickly as people want, and some taxes will go up. So it's going to be difficult," he said.that was so ferocious that the Bank of England had to intervene to prevent pension funds being caught up in the chaos as borrowing costs surged.

 

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