Britain’s Chancellor of the Exchequer warned on Sunday that there will be spending cuts and tax increases in order to fix the country’s public finances shortfall.
The official, Jeremy Hunt, is due to present details of the announcement Thursday to Parliament.
He said you are obligated to make decisions “very difficult” In order to combat inflation and improve the economy.
Hanto told British broadcasters that he was determined to make the expected recession as moderate as possible.He warned that everyone would have to pay more taxes.
“I’m conservative and I think I’ve been very clear there’s going to be an increase in taxes, and that’s a very difficult thing for me because I got into politics to do the exact opposite,” Hunt told the BBC.
Hunt is seeking up to 60 billion pounds ($71 billion) in savings and additional income to bolster the public finances and fix something of the year that economists say is caused by his predecessor, Kwasi Quarting, and former Prime Minister Liz Truss.
According to the Resolution Foundation, Truss and Quarting lost 20,000 million pounds in spending cuts, and another 10 billion through increased interest rates and borrowing costs.
Hunt said he would stick to his predecessor’s promise to help citizens with energy costs, but warned that there would be cuts in government agencies.
Earlier, speaking to the Sunday Times, the literary figure mentioned “miser‘, which spoils Christmas.
“I’ll be the “miser” who will do things in a way that never ruins Christmas“, He said.
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