The Britain’s new finance ministerAnd the Jeremy Huntthis Saturday that tax plan Presented by his predecessor Kwasi Quarting three weeks ago ccontain “errors” This will be corrected in a new version that he will announce himself on October 31.
In his first interview after taking office on Friday, on Sky News, Hunt admitted the mistake of wanting to cut taxes on the richest people in times of economic hardship. “It was wrong to lower the ratio (from 45% to 40%) for the rich When we’ve been demanding tough decisions about taxes and spending.”
In the same way, expect it CEO Liz Truss will have to take “drastic” measures to balance the accounts, which will include requiring all ministries to offer savings plans and forgoing many tax cuts. “Spending will not go up as much as people want, we will have to look for more savings, we will not have the tax cuts I was expecting, so there will be some that will have to go up. That is the reality of the situation we are facing.. we are facing.”
Prime Minister, Liz Truss, On Friday it corrected its plan to keep the corporate tax at 19% and took back the previous Boris Johnson government’s bill to raise it to 25%, after the financial storm unleashed by the “mini” budget introduced by former Economy Minister Kwasi Koarting. . The crash in markets and the pound led to Truss initially canceling the tax cut for annual incomes of more than 150,000 pounds, and maintaining, on Friday, a corporate tax increase.
Anyway, Hunt said so The austerity levels implemented in 2010 will not return, after the outbreak of the financial crisis, by the government of David Cameron. Although he has stated on several occasions his support for tax cuts, he admitted that “it does not make sense to do so by resorting to more indebtedness”.
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