Tax rises for everyone to help plug 'eye-watering' black hole, Hunt to warn 🔴 janemerrick23 reports.
However, following their meeting, the Prime Minister and Chancellor concluded that spending cuts alone will not be enough to plug the fiscal black hole.
But “given the eye-watering size of the fiscal black hole, the PM and the Chancellor agreed that tough decisions are needed on tax rises, as well as on spending”, they added. Whitehall departments are already struggling to find efficiency savings, given 10 per cent inflation has squeezed their budgets.
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