Britain’s big-spending Chancellor and his billionaire heiress wife dined at an exclusive private members’ club last night as England’s lockdown ended – hours after Rishi Sunak hinted that tax rises are on the horizon to tackle the UK’s huge coronavirus-fuelled debt pile. Mr Sunak and his spouse Akshata Murthy, the daughter of Indian IT mogul Narayana Murthy, headed … Read more
Rishi Sunak braces Britain for tax rises warning the country’s huge coronavirus-fuelled debt pile could be a disaster if interest rates spike By James Tapsfield, Political Editor For Mailonline Published: 09:22 GMT, 3 December 2020 | Updated: 09:22 GMT, 3 December 2020 Rishi Sunak has delivered another strong hint that tax rises are on the … Read more
Rapid economic recovery next year could allow Rishi Sunak to delay tax rises until 2022, ministers hope Chancellor Rishi Sunak refused to commit to the Tories’ triple tax lock Senior Treasury ministers are waiting until the end of the coronavirus pandemic A source told The Telegraph tax rises would not come any time soon Mr … Read more
Rishi Sunak is under fire after REFUSING to appear in front of MPs to answer questions on his controversial Spending Review as the Chancellor ‘faces questions over his family’s finances’ Spending Review sparked major controversy as Rishi Sunak cut foreign aid Treasury Select Committee asked the Chancellor to come and answer questions But Mr Sunak … Read more
Is Rishi Sunak ditching the triple tax lock? Chancellor refuses to rule out raising income tax, VAT or National Insurance to plug coronavirus black hole Rishi Sunak did not rule out raising income tax, VAT or National Insurance He told BBC Breakfast the scale of borrowing this year was ‘not sustainable’ The ‘triple lock’ against … Read more
Rishi Sunak defends public sector wage freeze saying state workers had a ‘7 per cent pay premium’ even BEFORE coronavirus hit and the gap is widening Rishi Sunak has defended public sector pay freeze next year in spending review Chancellor said there was a 7% ‘premium’ for state workers before the pandemic Mr Sunak insisted … Read more
‘It’s clear what the shape of the deal looks like’: Rishi Sunak hints UK and EU are on the brink of Brexit trade pact after watchdog warns failure would wipe another 2 per cent off GDP Rishi Sunak said this morning ‘it is clear what the shape of the deal looks like’ The Chancellor said … Read more
Rishi Sunak was today accused of being ‘too optimistic’ and may need to find more cash to tackle Covid-19 despite spending ‘truly astonishing’ amounts trying to keep the British economy afloat. The Chancellor announced yesterday that borrowing would hit almost £400 billion this year, with government spending topping £1 trillion for the first time as the damage … Read more
The pandemic will permanently ‘scar’ the economy and blast a gaping hole in the public finances, an official watchdog warned yesterday. In a bleak set of forecasts, the Office for Budget Responsibility said national output will shrink by 11.3 per cent this year – the largest fall in three centuries. It will not return to its … Read more
Rishi Sunak vowed to plough £100billion into road, rail and broadband projects yesterday. The Chancellor refused to renege on the Government’s plan for ‘once-in-a-generation’ infrastructure spending. Despite the Covid hit to the economy, he said he was pressing ahead with the highest sustained level of public investment in more than 40 years. Mr Sunak told … Read more