Biting tax hikes and spending cuts are what Britons should expect as Britain’s new bearer of bad news, Jeremy Hunt, unveils his budget today.
He will also freeze the rates at which workers begin paying higher rates, slyly nudging some people up into higher tax brackets than they were in before.
‘High inflation is the enemy of stability,’ Mr Hunt will add as he tells Britain to brace itself for many ‘sacrifices’ ahead. The cost-of-living crisis deepened in October, with consumer prices surging 11.1% from a year earlier — the highest in more than 40 years.‘We are taking a balanced path to stability: tackling the inflation that eats away at a pensioner’s savings and increases the cost of mortgages to families, at the same time supporting the economy to recover,’ Mr Hunt will add.
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