Rishi Sunak Promises Tax Rises Will Not Be A 'Horror Show'
Rishi Sunak has attempted to reassure Tory MPs that he will not preside over a “horror show” of tax rises to fill the black hole coronavirus has blown in the UK’s finances.
The chancellor was pictured carrying notes for his speech to Tory MPs elected for the first time in 2019 as he left Downing Street on Wednesday.
Sunak stressed that the government would need to do “difficult things” to cover the huge cost of furlough and other schemes during the pandemic, but stressed his long-term goal was making the UK a “dynamic, low-tax economy”.
Breaking: Rishi Sunak leaving No11 this morning holding notes, weird writings for a chancellor "Now this does not mean a Horror show of tax" and more to come!! pic.twitter.com/tPr8ZU7Gmj
— PoliticalPics (@PoliticalPics) September 2, 2020
Rishi notes, I am embarrassed at the quality as its a massive pull up from a full length pic, my apologies must be getting old !! pic.twitter.com/m9rddBBnx9
— PoliticalPics (@PoliticalPics) September 2, 2020
He was meeting the new intake of MPs in an attempt to reassure them following reports that he is planning a multi-billion pound tax raid on the wealthy to cover the huge costs of Covid-19 and right the public finances mid-recession.
There are also reports that the chancellor is planning to scrap the pensions triple-lock on affordability grounds, although No.10 has insisted the government has “no plans” to do so.
Sunak is also said to be eying up cuts to the foreign aid budget, although foreign and development secretary Dominic Raab said the UK remains committed to spending 0.7% of national income on overseas development.
IN DEPTH Rishi Sunak: How The Coronavirus Chancellor Hit The Big Time – And What Could Bring Him Down
The chancellor’s speech comes with backbenchers increasingly concerned about the government’s direction of travel following 12 policy U-turns in around six months.
Boris Johnson is also expected to “drop in” to a 1922 committee meeting of backbenchers...
