Chancellor Jeremy Hunt is due to announce his Autumn Budget this week, which is set to include "eye-watering" policies.
PM Rishi Sunak has pledged to deliver on market expectations this morning, with the Chancellor's statement on Thursday (17 November) expected to include painful public spending cuts and tax hikes to plug a 'black hole' in the nation’s finances. Jeremy Hunt has warned everyone will need to pay “a bit more tax” to stabilise the economy.
The UK is currently on track for the longest recession since the 1920s, and the Chancellor and Prime Minister are under pressure to ease the current cost-of-living crisis for the public. Mr Hunt earlier said “sacrifices” were required across the board to get the economy back on track.
