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Britons braced for tax hikes to fill £55bn hole
Sunday Express
|November 13, 2022
CHANCELLOR Jeremy Hunt is set to announce fresh stealth and windfall taxes, in addition to spending cuts, to plug Britain's £55billion fiscal hole in his Autumn Statement on Thursday.
Hunt's Autumn Statement will attempt to repair the damage done by the Truss administration and its disastrous mini-Budget, which hit Britain's already weak economy by sinking the pound and hurt public finances by raising its borrowing costs.
At the same time, he will unveil his medium term fiscal outlook. To plug the UK's fiscal hole, Hunt is expected to either announce new tax raids on energy companies and banks or extend existing ones.
This story is from the November 13, 2022 edition of Sunday Express.
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