New Chancellor of the Exchequer Nadhim Zahawi has admitted in his first day in office that taxes across the country are set to go up.
During media rounds the Tory MP warned that next year will be "really hard" for the economy as the cost of living crisis continues to hit families hard.
Zahawi was appointed Rishi Sunak's replacement late last night after he sensationally quit over the handling of the Chris Pincher affair.
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Questioned on BBC Radio 4's Today programme about taxes rises, the new Chancellor said: "Yes, but, at the same time, we've had £407 billion input to help the economy and people's livelihoods and life to get through the pandemic.
"We've just come out of the equivalent of a world war. We have to rebuild the economy and return to growth - that is what your listeners will want me to focus on.
"It's my first day in the job ... and I need to be able to just make sure I go back, review everything; nothing is off the table.
"I'll come back on your programme and happily talk about where I think we can do more on taxes.
"We are determined to do that, as was my predecessor - he was determined to do that on personal taxation, and of course on other taxes as well."
Speaking about the economy as a whole, Zahawi said: "I opened by saying to you my task is to rebuild the economy and return to growth.
"We've had good growth this year - second highest growth in the G7. And then, of course, good growth is forecast for 2024.
"But '23 is going to be really hard for us. I described that in my earlier remarks. But of course I will continue to share that evidence. I want to make sure we bear down on inflation."
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