Difficult decisions will be needed “across the board” on tax and spending, the new chancellor has said.
Jeremy Hunt told the BBC that some taxes will go up, while government spending may need to fall.
He said two mistakes were made in the mini-budget by Kwasi Kwarteng – cutting the top rate of tax and announcing it without an independent forecast.
But he also praised his predecessor for help offered to people struggling with their energy bills.
Mr Hunt said he agreed with the prime minister’s goal of “solving the growth paradox”, but added: “The way we went about it clearly wasn’t right and that’s why I’m sitting here now.”
Speaking to BBC Radio 4’s Today Programme, Mr Hunt said: “Taxes are not going to come down by as much as people hoped, and some taxes will have to go up.
“I’m going to be asking all government departments to find additional efficiency savings.”
His comments come after the government’s mini-budget last month, which included £45bn worth of tax cuts, and…
This article was written by and originally published on www.bbc.co.uk