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Sunak warns of hard choices ahead

06-10-2020

The Chancellor yesterday told the Conservative Party conference that the Government has a “sacred responsibility” to balance the books for future generations warning that there were “hard choices” ahead. Rishi Sunak indicated that not all Conservative party manifesto promises will be easy to meet considering the expenditure on the coronavirus crisis arguing that flexibility will be required. Mr Sunak said that the “mismatch” between public spending and tax revenues “can’t go on forever”, adding that balancing the books was “economically and morally” the right thing to do. The Telegraph reports on fears that the Government has political cover for a wealth tax to plug the budget shortfall after an Ipsos Mori poll found 41% of the public support the move over other revenue-raising measures. Elsewhere in the paper, Matthew Lynn says Sunak has the perfect opportunity now to “ rip up the entire tax system and start again from scratch”.

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