As Prime Minister Rishi Sonak attempts to close the deficit in the public budget, the British Treasury issued a warning against enacting “inevitable” tax increases.
Jeremy Hunt, the Treasury Secretary, and Sonak met on Tuesday to go over the possibilities for the financial statement that will be released on November 17. They agreed that “strict decisions” regarding tax increases, as well as about spending.
The Treasury reiterated that “everyone must contribute more to taxes in the coming years,” without providing any other information about the discussion.
She said: “Given the size of the financial black hole, the Prime Minister and Minister of Finance (Treasury) agreed that there is a need for strict decisions regarding tax increases, as well as on spending.
“According to the BBC, even though ministry officials did not provide a specific figure for the “financial black hole,” it may be as high as 50 billion pounds.
the source reported “The budget is going to be harsh.
The truth is that everyone will need to contribute more to taxes if we want to maintain public services,” noting that “given the size of borrowing to support energy bills and combat the Kofid-19 pandemic, we will not be able to fill the hole Financial black by reducing spending alone. ”
from the BBC.
In Britain. The Ministry of Treasury warns against increasing taxes to bridge the financial gap
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