finance minister warns of ‘difficult decisions’ ahead

The presentation of Jeremy Hunt’s budget is eagerly awaited across the Channel, following the failure of the measures announced by the Liz Truss government in September.

“Very difficult decisions” ahead. A few days before the presentation of his budget, the British Chancellor of the Exchequer Jeremy Hunt warned. In particular, he argued the need to increase taxes in light of the rising cost of living.

“There will be some very difficult decisions. But we are a resilient country and, frankly, we have faced bigger challenges in our history,” he said on sky news as Britain remembers the victims of wars on Sunday.

Inflation in the UK is over 10% and due to rising energy prices, many UK households are struggling to pay their bills and fearing when they will have to turn on the heat.

“We will all have to pay a little more tax”

“We’re all going to have to pay a bit more tax, I’m afraid,” he warned as he presented his budget on Thursday.

The appointment is eagerly awaited in the United Kingdom after the failure of the “mini-budget” presented by the government of Liz Truss in September, which had panicked the markets by announcing massive and unfunded tax cuts.

To calm the storm, Jeremy Hunt had been called to the Treasury and had already gone back on most of the measures announced. He was due to present a new budget plan on 3 October, but after the re-appointment of Rishi Sunak, who became Prime Minister, he felt it would be “prudent” to postpone the presentation to 17 November.

The lowest income saved?

“We will ask everyone to make sacrifices. But I think in a fair society like we are in Britain, you have to admit that you can’t ask too much of those on the lowest incomes, and I factor it into the decisions I make”, he would reassure.

According to the British press, Jeremy Hunt is expected to announce a change in the income tax bracket to tax the wealthy more and introduce severe budget cuts in government.

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