'It's going to be tough': Warning of tax rises for everyone as Sunak and Hunt look to pay back £50million into public purse
Picture: AlamyPeople across the country are facing rising taxes for years to come as the Prime Minister and Chancellor look to address an estimated £50billion black hole in the public purse.
It has been reported that Rishi Sunak and Jeremy Hunt are looking to plug the gap through a combination of 50% tax rises and 50% spending cuts - indicating that £25billion of tax rises could be on the cards. According to the Daily Telegraph, they have agreed to freeze the thresholds where people start to pay different rates of income tax and national insurance for years ahead.
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