March 23, 2023
Finance International

British Finance Minister Sticks To Tax-Hiking Plans, Pledges Post-Brexit Reforms

British Finance Minister Jeremy Hunt on Friday signaled he is pushing ahead with tax hikes, while stressing the need to develop Brexit into a “catalyst” for U.K. growth.

“The best tax cut right now is a cut in inflation,” Hunt said in a speech addressed to tech giants, including Amazon, Google and Meta, as he looks to dispel economic “gloom” in the U.K.

Optimism in the U.K. economy has been in “short supply” in recent months, Hunt said.

Hunt told companies that they were important for the U.K. outlook, but added that “Britain is vital for your future too” and asked for their help to make the country “the world’s next Silicon Valley.”

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