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Britain’s New Chancellor Says Some Taxes Will Rise
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wsj.comLONDON—The U.K.’s new chancellor, Jeremy Hunt, effectively scrapped Prime Minister Liz Truss’s signature tax-cutting plan, saying on Saturday that some levies would have to rise and public-spending cuts would need to be made to restore market confidence in the British economy.
Mr. Hunt said that Ms. Truss had made mistakes with her plan to boost growth by borrowing money to fund the biggest tax cuts since the 1970s, measures that spooked the markets and sent the Conservative Party crashing in the polls.
Read more on wsj.comAbout this in other media
UK banks brace for ‘windfall tax’ to help plug £40bn hole in public finances theguardian.com /2 years ago
Bank profits face fresh tax raid in bid to shore up UK finances fnlondon.com /2 years ago
Banker bonus cap wasn’t working, says new chancellor Jeremy Hunt fnlondon.com /2 years ago
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