It has been reported that Jeremy Hunt’s Budget next month will raise taxes by a further £25 billion as part of the efforts to plug the gaping black hole in the nation’s finances.
Mr Sunak said he was ‘confident’ they can rectify the ‘mistakes’ of Liz Truss’s leadership, as he focused on bringing down inflation and limiting rises in interest rates.
‘But what I want everyone to know is that we need to do these things so that we can get our borrowing and debt back on a sustainable path. ‘But as we do that, I want people to be reassured, we will always do it with fairness at the heart, we will protect the most vulnerable and ensure that we can continue to grow the economy in the long run.’
‘People should not underestimate the scale of this challenge, or how tough the decisions will have to be. We’ve seen what happens when governments ignore this reality.’