Conservative former leader Sir Iain Duncan Smith says there will be 'deep concern' in his party if Rishi Sunak raises taxes next week as part of the autumn statement.
Asked what concerned him most, Sir Iain told Sam Coates:"We have to get growth. We are going to go into recession, that is pretty clear now, and the question now is how deep the recession goes."If its deep and we don't emerge until 2024 or even 2025, our electoral chances are pretty slim. If worklessness rises, if people's incomes go, if they cant pay their mortgages, these are very difficult things for them...
However, he accepted the PM had"big problems", adding:"He is going to have to look for spending reductions, spending cuts, a lot of them departmental - that's normal - and after COVID, there are probably some areas that he can go to. "But he also has to protect other areas like people on very low income, on benefits and those on pensions, so those ones are probably ruled out to him.""It will be deep concern if we go over the top on tax rises because, as I say, it is absolutely a fact of life that tax rises will make the recession deeper," said Sir Iain.
"It wont go down particularly well because many people and economists too think it will be a [problematic] decision to make. I think he has got to focus on finding the spending [cuts]."
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