Jeremy Hunt confirmed ‘everyone’ is going to pay more tax ahead of Autumn Budget | Personal Finance | Finance
The new Chancellor appeared on Sunday with Laura Kuenssberg earlier this morning to answer questions about next week’s upcoming Autumn Budget. Mr Hunt took on the position following the disastrous market reaction to the former Chancellor Kwasi Kwarteng’s mini-Budget under Liz Truss. With Prime Minister Rishi Sunak hoping to revitalise the economy and curb spending amid the cost of living crisis, the Chancellor is expected to announce major tax changes within the next week.
Speaking about the upcoming Budget on BBC One, Mr Hunt said: “We are going to see everyone paying more tax.
“We are going to see spending cuts but I think it’s really important to say that we are a resilient country. We have faced bigger challenges in our history in the past and we are also a compassionate country.
“So we will introduce a plan that will see us through the very choppy waters that we’re in economically but we’ll make sure that we protect the most vulnerable, and particularly deal with the single biggest worry for people on low incomes, which is the rising cost of their weekly shop, and rising energy prices.
“Economically, that makes sense too, because inflation is much higher than it should be, and that is destabilising people’s family finances, as well as being very bad.”
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