UK’s New Chancellor Jeremy Hunt Signals Tax Rises and Spending Cuts

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UK's New Chancellor Jeremy Hunt Signals Tax Rises and Spending Cuts

The UK’s Treasury department will make some “very difficult decisions ahead,” new Chancellor of the Exchequer Jeremy Hunt said on Saturday as he alluded to tax rises and spending cuts.
In this first interview as the chancellor following the dramatic sacking of his predecessor Kwasi Kwarteng, Hunt said he would demonstrate the government’s fiscal credibility by making “some very difficult” tax and spending decisions in a bid to stabilize the financial market.
“The thing that people want, the markets want, the country needs now is stability. No Chancellor can control the markets. But what I can do is show that we can pay for our tax and spending plans and that is going to need some very difficult decisions on both spending and tax,” the chancellor told Sky News....

Source: UK's New Chancellor Jeremy Hunt Signals Tax Rises and Spending Cuts

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