Jeremy Hunt to Grip British ‘Economic Storm’ with MAJOR Tax Hike Announcements TODAY

The Chancellor will promise to help Britain weather the economic’storm’ as he unveils a package of drastic tax increases and spending cuts, risking a backlash.

Jeremy Hunt will promise to put the country on a “balanced path to stability” in his Autumn statement, vowing to tackle the “enemy” of inflation, which has risen to a 41-year high of 11.1 percent. Mr Hunt will claim that his “difficult decisions” are required to keep mortgage rates low and to address the skyrocketing energy and food prices that are exacerbating the cost-of-living crisis.

However, Tories on the right of the party are already outraged at the prospect of tax increases, while energy bill support is likely to be reduced and public services cut.

The much-anticipated fiscal showpiece is also expected to protect the triple lock on pensions, which would be a massive victory for the Daily Express and campaign group Silver Voices after a long campaign.

A remarkable 330,000 people have signed our petition demanding that the manifesto commitment be reinstated.

“It would be barbarous if the Government did not bow to the force of public opinion and restore the triple lock protection to state pensions on Thursday,” said Dennis Reed, Director of Silver Voices.

Mr Hunt will use his hour-long Commons statement to try to restore the UK’s economic credibility in the aftermath of Liz Truss’s brief administration.

It will be a sharp contrast to Kwasi Kwarteng’s disastrous mini-budget two months ago, which threw the country into financial chaos.

His £45 billion package of unfunded tax cuts, on top of a massively expensive energy support package, stunned mainstream economists and frightened markets.

Furthermore, the Bank of England was forced to intervene in order to stabilise the economy.

The Chancellor will insist that his strategy “protects our long-term economic growth” while also being “compassionate” to society’s most vulnerable members.

Mr Hunt will promise policies that will “work together” with the Bank of England to raise and cut interest rates by around £60 billion.

The announcement on Thursday comes amid soaring inflation, with food prices rising at the fastest rate in 45 years, with the cost of staples like milk, cheese, and eggs skyrocketing.
In the year to October, food price inflation reached 16.2 percent.

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