SUNAK TO FOCUS HIS BUDGET ON SUPPORT FOR BUSINESSES AND FAMILIES, KWARTENG SAYS
Rishi Sunak will focus on “critical support” for businesses and households in his Budget rather than immediate efforts to balance the books, a Cabinet colleague indicated.
The Chancellor has said his address to MPs on Wednesday will be characterised by “honesty and fairness”, indicating he will set out how he intends to begin the task of repairing the public finances which have been battered by coronavirus.
Business Secretary Kwasi Kwarteng played down the prospect of immediate large tax increases but said Mr Sunak had acknowledged the country could not “go on spending money forever”.
“For now, what we have to do is support businesses, individuals, families, through what has been an extremely difficult time,” he told BBC Breakfast.
“We have got another three years to run in the parliament and the Chancellor will be looking to reduce the deficit.
“For now, I think the real emphasis is on trying to provide critical support.”