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UK , tax increase is the only solution.

 


Rishi Sunak warned last night that the financial markets would punish Britain if he did not raise taxes and cut spending, as ministers announced they were curtailing support for energy bills from April. In a riposte to his critics on the Tory right, the prime minister said the government had to meet the «expectations of international markets» after the loss of confidence brought about by his predecessor Liz Truss’s mini-budget. However, he pledged that Jeremy Hunt, the chancellor, would also lay out longer-term proposals to «cut people’s taxes over time» when he delivers his autumn statement on Thursday. Yesterday Hunt said that «we’re all going to be paying a bit more tax» to get the country’s finances back on track, and there were «hard choices» to make.

He also revealed that there would be «constraints» on further help towards energy bills after April, with support targeted towards the most vulnerable. The Treasury is understood to be drawing up a package that would adjust the current price cap and result in many households facing an increase of up to £600 in average annual bills. Speaking en route to the G20 summit in Bali, Sunak addressed critics among his backbenchers who claim that his tax plans could damage growth and prolong any recession. Speaking to Times Radio, the chancellor said that he had «hard choices» to make and there would need to be a «contribution from everyone» to get the country’s finances back on track.

«This is a compassionate Conservative government that recognises the pressures people feel. But we’re not going to stop hard choices,» he said.

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  1. Anonymous14 November 2022 at 12:38

    The "hard choices" should start with not just throwing money away on welfare and not encouraging people to stay home and do nothing. I am not talking about the people that deserve this money. I am talking about those that take advantage of the system. UK needs to start encouraging good, hard work from all their citizens. And yes, we will probably have to pay more taxes. That was to be expected but make sure that money goes into development of the country.

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