Prime Minister Rishi Sunak
Political Fix
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How Much Do You Need to Increase Taxes to Fill a Hole?
There's a hole of about 30 to 40 billion pounds now where it gets complicated is that if you want to fill a hole or 30 to 40billion pounds you actually need to have tax increases or spending cuts. When you raise taxes or cut public spending you actually hurt the economy a bit and then that has a knock-on effect on to tax revenues. I think we're now looking at a number close to 50 billion pounds of measures that need to be announced on November the 17th unless things improve between now and then. There's no low hanging fruit in Whitehall to try and make these kind of savings.
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