---
title: "UK’s Sunak reconsiders tax rises – The Telegraph"
description: "British Prime Minister Rishi Sunak is considering tax rises and major public spending cuts, according to The Telegraph."
type: "NewsArticle"
publisher: "Daily Maverick"
site: "https://www.dailymaverick.co.za"
section: "Business Maverick"
author: "Reuters"
author_url: "https://www.dailymaverick.co.za/author/reuters/"
canonical_url: "https://www.dailymaverick.co.za/article/2022-10-27-uks-sunak-reconsiders-tax-rises-the-telegraph/"
published: "2022-10-27T06:14:12"
lang: "en-ZA"
word_count: 190
---

# UK’s Sunak reconsiders tax rises – The Telegraph

> British Prime Minister Rishi Sunak is considering tax rises and major public spending cuts, according to The Telegraph.

By Reuters · Published 27 October 2022, 08:14 SAST

## Content

Sunak on Wednesday [delayed the announcement](https://www.reutersconnect.com/all?search=all%3AL1N31R0EO&linkedFromStory=true) of a keenly awaited plan for repairing the country's public finances until 17 November, two-and-a-half weeks later than previously planned.

The fortnight delay is expected to shrink the size of the black hole in the public finances by up to £10-15 billion, the newspaper [reported](https://www.telegraph.co.uk/politics/2022/10/26/rishi-sunak-reconsiders-tax-rises-budget-delay-saves-15-billion/), citing an analysis to be published by the Resolution Foundation think-tank.

The report noted a rapid fall in the interest rate paid on government gilts and a reduction in the international gas price.

It said Whitehall departments have been told to find savings of from 10% to 15% each.

Soon after Sunak became Britain’s Prime Minister on Tuesday, he said [difficult decisions lay ahead](https://www.reutersconnect.com/all?search=all%3AL1N31Q0LJ&linkedFromStory=true) as he looks to cut public spending.

Jeremy Hunt, who was appointed as the finance minister by the former prime minister Liz Truss to calm markets roiled by her dash for growth, was re-appointed by Sunak and [repeated his warning](https://www.reutersconnect.com/all?search=all%3AS8N31C0D5&linkedFromStory=true) on Tuesday that “it is going to be tough”.

Last week, *The Telegraph*reported that Hunt was considering up to £20-billion of [tax rises](https://www.reutersconnect.com/all?search=all%3AS8N31C0DC&linkedFromStory=true) in a budget that was previously scheduled for 31 October.