Sunak, Hunt Say ‘Inevitable’ All Britons Will Pay More Tax
- UK Treasury describes fiscal black hole as ‘eye-watering’
- Two research groups say spending cuts alone are insufficient
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Rishi Sunak’s government said it’s inevitable that all Britons, especially the richest, will have to pay more tax to restore stability to the public finances.
Sunak met with Chancellor of the Exchequer Jeremy Hunt on Monday to discuss tax and spending plans ahead of an economic statement planned for Nov. 17. They discussed the “eye-watering” gap in Britain’s public finances, and agreed “tough decisions” are needed on tax rises and on spending, according to a Treasury readout.