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 Reparatie-bezuinigingen om budget te herstellen infographic
Graphic shows possible taxes and cuts British finance minister Hunt could make to fix the UK budget
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POLITIEK

Mogelijke bezuinigingen op de Britse begroting

By Duncan Mil

October 20, 2022 - UK finance minister Jeremy Hunt has reversed most of formwe Prime Minister Liz Truss’ £45 billion (€52bn) of unfunded tax cuts. He needs to raise a further £40bn (€46bn) to repair public finances.

Earlier this week, Hunt pledged to enact steep new spending reductions and rein in an energy-price freeze while hinting that more cuts are on the way.

The good news is that the financial markets have not taken further fright at the chaos in the UK’s governing party. Bond yields eased, the pound rallied, and a sense of crisis dissipated -- at least for the moment.

The number of Tory MPs publicly calling for Truss to quit swelled to 14 after a catastrophic 24 hours for her premiership.

On Wednesday (October 19), Truss abruptly fired Home Secretary Suella Braverman for a national-security breach. Braverman lashed out at Truss’s “tumultuous” premiership as she resigned and accused the Government of “breaking key pledges,” including immigration policy. Her departure came just five days after Truss sacked Kwasi Kwarteng as chancellor.

Prime Minister Liz Truss resigned on Thursday following her failed tax-cutting budget that rocked financial markets and led to a revolt within her own Conservative Party.

Sources
PUBLISHED: 20/10/2022; STORY: Graphic News; PICTURES: Getty Images
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