- Sunday, March 09, 2025
By: Shubham Ghosh
Britain’s new finance minister Jeremy Hunt on Saturday said some taxes would go up and tough spending decisions were required, hinting at further reversals from prime minister Liz Truss as the latter battles to survive after just over a month into her term, Reuters reported.
Trying to appease financial markets that have been in turmoil for weeks, Truss fired Kwasi Kwarteng as her finance minister a day before and scrapped parts of their controversial economic package.
With opinion poll ratings plummeting for both the ruling Conservative Party and Truss personally, and many of her own lawmakers asking how she should be removed, the leader has turned to Hunt to help salvage her premiership.
“We will have some very difficult decisions ahead,” Hunt said as he toured TV and radio studios to give a blunt assessment of the situation Britain faced, saying both the prime minister and his predecessor had made mistakes.
“The thing that people want, the markets want, the country needs now, is stability,” Hunt was quoted as saying by Reuters.
“No chancellor can control the markets. But what I can do is show that we can pay for our tax and spending plans and that is going to need some very difficult decisions on both spending and tax.”
