RISHI Sunak last night said everyone’s taxes must rise to prevent another economic meltdown.
The Prime Minister confirmed that Thursday’s Autumn Statement will be brutal so that financial markets do not hurt the UK economy again.
Rishi Sunak said everyone’s taxes must rise to prevent another economic meltdown
But he hit back at claims the Government will choke off economic growth with spending cuts and tax hikes.
The PM, travelling to his first major summit at the G20 in Indonesia, said: “Financial conditions in the UK have stabilised because people expect the Government to put our public finances on a sustainable trajectory.
“It’s the Government’s job to deliver on that — and that’s what the Chancellor will do.”
Mr Sunak also indicated there could be years of financial pain but that the Government wanted to cut taxes.
He added: “The Chancellor has said that part of our job is not just to bring stability back to the system, which we will do, but it’s also to lay the foundations for the economy to recover and grow.
“Ultimately, that’s what we all want to see.
“That’s how we’re going to be able to cut people’s taxes over time and support public services.”
