Top Tory warns Brits to brace for tax rises ahead of Rishi Sunak budget tomorrow

Brits warned to brace for tax rises ahead of Rishi Sunak’s budget tomorrow

3/2/2021 7:45:00 PM

Brits warned to brace for tax rises ahead of Rishi Sunak’s budget tomorrow

BRITS need to brace for tax rises to get the nation’s finances back in the pink, a top Tory has warned ahead of Rishi Sunak’s budget tomorrow. William Hague, who is a close ally of the …

until JuneLord Hague urged Tory MPs not to ruin the party's reputation for financial responsibility by opposing budget-balancing measures.Writing in the Telegraph, he said "It pains me to say, after spending much of my life arguing for lower taxes, that we have reached the point where at least some business and personal taxes have to go up.

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"Conservatives need to remember that for 200 years, from Pitt in 1797 to Thatcher and Cameron in our own day, keeping the country creditworthy has stood them in very good stead."3Lord Hague says tax rises are needed to balance the booksCredit: PA:Press Association

Business Secretary Kwasi Kwarteng suggested tax rises will come later on this yearCredit: refer to caption.The Tory grandee - a former foreign secretary - is a close ally of Mr Sunak and will appear alongside him at a budget event on Friday.Both men served the same constituency of Richmond, in Yorkshire, with the chancellor taking no the seat from Lord Hague when he stepped down in 2015.

Mr Sunak's predecessor in No 11, Philip Hammond, warned both tax rises and spending cuts will be needed to get public spending back under control.He told Times Radio: "We have got to get a balance right between restraining public spending and increasing taxes and we're going to have to do both.

"Anybody who says the challenge can be met only by increases in taxation, or only by cuts in public spending is not being straight with people."Their interventions comes as Mr Sunak is said to beto help rebalance the books.The chancellor has

shelved plans to hike up fuel dutyin a major victory for The Sun's legendary Keep It Down campaign.But he is said to be eyeing up more cash elsewhere, including from a rise in corporation tax and freezing the tax-free threshold.Mr Sunak has faced a string of warnings from top Tory backbenchers not to hike taxes tomorrow.

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Even ex PM David Cameron, who oversaw the austerity years, weighed in against such a move saying it "wouldn’t make any sense at all".But elsewhere the chancellor is also considering further public spending to prop up the struggling economy.He is set to

extend furlough, business relief, the Universal Credit uplift, and stamp duty holiday until June at a cost of £30 billion.Boris Johnson promises Budget will be focused on a jobs-led recovery amid claims Brits set for tax rises Read more: The Sun »

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Do those who have worked throughout & claimed or received nothing get some sort of reward / rebate🤣 Hmmmm thought not🥺🥺 If you have been working from home during lockdown and havnt yet claimed the working from home tax credit you should definitely check it out for a potential refund! I dont see much changes for income tax. In my opinion a CT rise is more likely. Either way i will keep people updated on how it impacts them!

Can I have a refund for , no gp apps, no council services, police on bench patrol 🤷🏼‍♂️ Do we get a refund on NI considering the amount of people that have suffered or died due to an overhyped cold? Bet the tories wont be affected by the tax rises if he does RishiSunak should resign in shame making the public again for something not there fault