British Finance Minister Jeremy Hunt announced on Sunday that “very difficult decisions” will be taken a few days before his budget offering, that taxes will rise in the face of high cost of living. “There will be some very difficult decisions, but we are a flexible country and frankly we have faced greater challenges in our history,” Hunt told Sky News, while the UK commemorates the victims of wars.
The inflation rate in the United Kingdom exceeded ten percent, and because of the high energy prices, many families are struggling to pay their bills and fear that they have to operate heating. “We will all have to pay a little higher taxes,” said
The Hunt budget is expected in Britain after the failure of the “mini budget” presented by the Liz Terrace government in September and sparked the grief of the markets with the announcement of huge tax discounts and its funding.
He was scheduled to present a new budget plan on October 3, but when he was appointed by Rishi Sonak, who became prime minister, he said that it would be “wisdom” to postpone the budget offering to November 17.
“We will ask everyone to make sacrifices . . . but I think that in a fair society, as is the case in the United Kingdom, it must be recognized that we cannot request many low -income people and take this into consideration in the decisions he made,” Hunt said.
British newspapers reported that Hunt will announce a change in the tax categories to impose more wealthy taxes with strict budget discounts in the government..
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