Jeremy Hunt is considering raising capital gains tax and slashing the dividend allowance as he seeks to fill the £50bn chasm in the nation’s finances, reports suggest.
In the wake of the disastrous mini-Budget which ultimately saw Liz Truss become Britain’s shortest-serving prime minister, the chancellor again warned on Thursday that there are “difficult decisions” ahead as the government seeks to “restore stability”.
Speaking after the Bank of England’s largest interest rate hike since the 1980s, Mr Hunt said that families and businesses are at “the top of our mind” as he and Mr Sunak look to plug the UK’s “massive fiscal black hole” with spending cuts and tax rises.
