Britain can’t borrow at these high interest rates, so we must tax the rich

Jeremy Hunt’s autumn statement may be a net disappointment, with spending offset by countervailing cuts elsewhere. Photograph: Tayfun Salcı/Shutterstock

Jeremy Hunt’s autumn statement is fast approaching and it looks like the public will be treated to the exciting spectacle of a chancellor treading water.

Hunt is in no mood to splash the cash when the financial markets still have a wary eye cast in his direction. Investors remember the panic that followed Liz Truss and Kwasi Kwarteng’s first and only budget, when the UK’s good name was sullied and, as a financial punishment, the cost of borrowing rocketed.