Despite tax U-turn, UK’s Hunt still faces tough budget choices ...Qatar

The screeching about-turn on tax cuts by finance minister Jeremy Hunt yesterday will not spare Britain from painful spending cuts and new tax hikes to fix the country’s public finances. Hunt stripped Prime Minister Liz Truss’s economic plans of all but a few of her tax-cutting promises as he rushed to stem the crisis in confidence that they set off in Britain’s bond market. Government debt prices recovered some of their huge losses of the past few weeks and the pound rose after his announcement. But the challenge for Hunt to repair the public finances — and Britain’s economic credibility — is far from done, with no pain-free options available. The economy is already on course for a recessio

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Despite tax U-turn, UK’s Hunt still faces tough budget choices ...Qatar

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