UK’s Sunak Takes No Tax Options Off the Table in Economic Plan


© Bloomberg. Rishi Sunak, UK prime minister, departs 10 Downing Street for his first Prime Minister’s Questions (PMQ) in London, UK, on Wednesday, Oct. 26, 2022. Sunak delayed an economic strategy announcement planned for Monday until Nov. 17 as he sought more time to make the “right decisions” on managing the British economy.


(Bloomberg) —

UK Prime Minister Rishi Sunak and Chancellor of the Exchequer Jeremy Hunt are taking no tax options off the table as they consider how to plug the hole in the UK’s budget, the premier’s spokesman, Max Blain, told reporters on Thursday.

Hunt is preparing to give an Autumn Statement on Nov. 17 after delaying it from Oct. 31, and has pledged to get the public finances back onto a sustainable footing, a task that in his words will involve “decisions of eye-watering difficulty” on tax and spending. 

Asked about potential expansion of a windfall tax on energy companies, and the possible imposition of a similar levy on banks, Blain declined to comment on specific measures, saying announcements on tax are for a fiscal event, such as the Autumn Statement.