Jeremy Hunt Ends 'Trussonomics' By Saying Taxes Will Go Up

As Jeremy Hunt acknowledged that taxes will increase to balance the government's finances, he signalled the end of Liz Truss's disastrous economic experiment.

Even though the prime minister had just ruled them off, the incoming chancellor reaffirmed that budget cutbacks are coming.

Just one day after taking over as Treasury Secretary in lieu of Kwasi Kwarteng, Hunt made his remarks.

The 'Trussonomics' economic theory of the prime minister was founded on a stated commitment to reduce taxes.

Truss has already been forced to reverse course on eliminating the 45p tax rate for the richest earnings and abandon a promise to lock company tax at 19p, which is a significant embarrassment.

Hunt told Sky News that further tax increases are inevitable and that spending will not increase as much as anticipated, that there will be more savings to discover.


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