Jeremy Hunt set to outline 60 billion pounds in tax rises and spending cuts: report

British finance minister Jeremy Hunt and new Prime Minister Rishi Sunak are trying to find ways to cut spending and increase revenue to plug a budget hole worsened by Sunak’s predecessor Liz Truss’s debt-fuelled economic plans

British finance minister Jeremy Hunt plans to set out on Nov. 17 up to 60 billion pounds of tax rises and spending cuts, including at least 35 billion pounds in cuts, the Guardian reported on Sunday.

Responding to a Reuters request for comment, the Treasury said it does not comment on speculation around fiscal events. Early drafts of the statement to be delivered on Nov. 17 contain plans for up to 35 billion pounds of spending cuts and up to 25 billion pounds of tax rises, likely to include freezing income tax thresholds and targeting dividend tax relief, the Guardian report said.

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