Jeremy Hunt confirmed that once again a UK Conservative government will raise taxes, a blow to any hope of Liz Truss governing as a Thatcherite.
The campaign was largely fought over the issue of taxation, with Truss arguing that tax cuts were essential for the economic growth needed to avert an economic collapse.
Sunak, who as Johnson’s chancellor had helped increase the tax burden to its heaviest in 70 years, argued that further tax hikes were necessary in order to mitigate the debt incurred during the Chinese coronavirus lockdowns, which wereWhile Truss’s platform was supported by the Conservative Party membership, during the initial rounds of the leadership contest, which were decided by a series of votes by Tory MPs, Suank secured the most votes from his colleagues, making it difficult for Truss to...
Hunt, despite his appointment as Chancellor signalling he remains an influential figure among the party establishment, did not make it out of the opening stages of the leadership contest in 2022, despite making the final two in 2019 — and he backed Sunak, not Truss, for party leader. “The sustained tax burden is now the highest it’s been since the country was recovering from the Second World War 70 years ago, and any tax rises in the next Budget will put that figure even higher."
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