RISHI Sunak fired off a warning shot over continuing with huge government spending last night as Britain’s debt hit a whopping £2.2trillion. The Chancellor said Britain must step up to keep d…
RISHI Sunak fired off a warning shot over continuing with huge government spending last night as Britain's debt hit a whopping £2.2trillion.
It came as former Tory Chancellor Ken Clarke warned ministers against splurging billions of pounds on a Royal yacht Britain couldn't afford - and claimed higher taxes are needed to slash spiralling debt. A cautious Mr Sunak said last night: "As we emerge from the pandemic, we are continuing to support people and businesses to get back on their feet and our Plan for Jobs is working."That's why at the Budget in March I set out the difficult but necessary steps we are taking to keep debt under control in the years to come." The latest debt stats raised fresh hope that the UK economy might escape the gloomy predictions of economists and bounce back by the end of the year.
"This reinforces our view that the tax hikes and spending cuts that most fear may be avoided." But yesterday Conservative former chancellor Lord Clarke saidis a "big risk" over the next few years and insisted Rishi will need to raise taxes to pay for his £300billion Covid spending spree.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
York Minster faces deficit of £2.3m after Covid closures in 2020Cathedral’s annual income from visitors and worshippers fell by 74% from 2019 figures
Read more »
Aston Martin sues Swiss car dealer over deposits on £2.5m supercarThe luxury car maker is on course to make first deliveries of the limited edition Valkyrie by the second half of this year.
Read more »
Government postpones ‘do or die’ meeting on social care in EnglandTalks between Boris Johnson, Rishi Sunak and Matt Hancock called off as calls grow for plan to tackle crisis
Read more »
Australia to enjoy exports boost six times greater than UK from trade deal, experts sayGovernment also warned of slump in agricultural trade with EU – if food standards rules are relaxed
Read more »
York Minster faces deficit of £2.3m after Covid closures in 2020Cathedral’s annual income from visitors and worshippers fell by 74% from 2019 figures
Read more »
Aston Martin sues Swiss car dealer over deposits on £2.5m supercarThe luxury car maker is on course to make first deliveries of the limited edition Valkyrie by the second half of this year.
Read more »