Benefits rising with inflation and council tax hikes: Hunt mulls options for fixing nation's finances

Jeremy Hunt, who is eyeing up a way of fixing a roughly £50bn black hole in the nation's finances, is also mulling over raising benefits with inflation and putting up the national living wage.It could add up to about £25bn of tax rises and £35bn of spending cuts.

The Prime Minister said: "With more news of inflation today, it's the number one thing that's on people's minds, it's the thing that's causing most anxiety."That's what's eating into people's living standards. It's the enemy that we need to face down. And I want to make sure that we do that and we do it as quickly as possible."

It is thought Mr Hunt is considering extending the freeze on income tax thresholds until 2028, which would drag millions more into paying a higher rate as their salaries rise. The Chancellor has said the new budget would need the better-off to pay more, and changes to the top rate of income tax could be on the way – despite Liz Truss attempting to abolish it in the disastrous mini-budget merely weeks ago.Reports suggest the £150,000 starting point for the 45% tax could be lowered, or that bracket could be taxed at a higher percentage.Mr Hunt has pledged the budget would not be all doom and gloom, however.

I'm absolutely petrified 😱

Bout time these benefit claimants helped out the people just above there pay grade as we are the poor sods getting squeezed by you

Completely fecked I'm guessing!!

Corrupt Sunak sees the American model with love. Pay for everything, no money for health, social, the weak. If you can’t be a slave to the multi-corporates then you can starve.

Why no mention of Financial Transactions Tax?

Austerity was extremely popular the last time because people with almost nothing were convinced that those with nothing were suffering more…

Well no one will be able to claim they’ve not ‘rolled the pitch’ on this one!

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