“There will be some very difficult decisions, but we are a resilient country and frankly we have faced even greater challenges in our history,” Hunt told Sky News as the UK commemorated the victims of the war on Sunday.
Inflation in the UK has exceeded ten per cent. Due to rising energy prices, many families are struggling to pay their bills and fear they will have to turn on the heat.
“We’re all going to have to pay a little bit higher taxes, I’m afraid,” said Hunt, who will present his on Thursday budget.
The budget by Hunt is expected in Britain after the failure of the “mini-budget”introduced by the Liz Terrace government in September caused panic in the markets with the announcement of huge tax cuts and no funding for them.
To calm the storm, he appointed Jeremy Hunt as finance minister.
He was supposed to present a new budget plan on October 3, but when he was appointed by Rishi Sunak, who became prime minister, he said it would be “wise” to postpone the budget presentation until November 17.
“We will ask everyone to make sacrifices,” Hunt said. “But I think that in a just society like the British one must recognize that we cannot ask too much from those with low incomes and I take this into account in the decisions I make “.
British newspapers reported that Hunt announced a change in tax rates to impose more taxes on the rich with severe budget cuts in the government.