“Some taxes won’t go down as quickly as people would like and some taxes will go up,” announced Jeremy Hunt on his first day in office.
The day after the resignation of his predecessor, the new British Secretary of the Treasury, Jeremy Hunt, managed to get the population to raise some taxes. “We’re going to have to make some very tough decisions,” he told Sky News. “Some taxes are not going to go down as quickly as people would like, and some taxes are going to go up.” The country and financial markets need stability.
Prime Minister Liz Truss sacked Finance Minister Kwasi Kwarteng on Friday and named Hunt as her successor. Since Kwarteng announced details of the fiscal plans at the end of September, which were supposed to be financed through debt, there has been turmoil in financial markets as there were doubts about his ability to finance it. The British central bank had to intervene in the purchase of bonds.
(APA/Portal)