The Prime Minister of the United Kingdom has twice had to correct the tax reform that has cost the post of the previous economic head, Kwai Kwarteng.
Euskaraz irakurri: Britainia Handiko Finantza minister berriak esan du “akatsak” izan direla Trussen kudeaketa ekonomikoan
The new UK finance minister, Jeremy Hunthas acknowledged that the Government incurred in several “mistakes” in the management of the tax reform that the prime minister, Liz Truss, has had to correct on two occasions and that has cost the previous economic manager, Kwai Kwarteng, his job.
Hunt, who replaced Kwarteng on Friday, acknowledged this Saturday in interviews with the BBC and Sky News that “there were two mistakes.” He believes that the Executive “was wrong” to reduce the income tax for large fortunes from 45 to 40% and also to announce these plans without the prior endorsement of the Office of Budget Responsibility.
The collapse of the markets and the pound led Truss to initially cancel the tax reduction for annual income of more than 150,000 pounds and, on Friday, to maintain the increase in corporate tax (from 19 to 25% ), as agreed by the previous government, headed by Boris Johnson.
“Taxes are not going to go down as much as people expected and some taxes will have to go up,” Hunt admitted, just one day after Truss publicly recalled that he ran in the last Conservative primaries with a clear commitment to “fiscal discipline” which contemplated, among other issues, tax reductions.
Hunt, who wants to be “completely honest with the country”, has admitted that there are “very difficult decisions” ahead.
Source: Eitb
I’m Tifany Hawkins, a professional journalist with years of experience in news reporting. I currently work for a prominent news website and write articles for 24NewsReporters as an author. My primary focus is on economy-related stories, though I am also experienced in several other areas of journalism.