Great Britain, Starmer: Budget Will Be “Painful”
Past Conservative governments have left a £22 billion hole, according to the British Prime Minister
“It’s going to get worse before it gets better.” Keir Starmer, who has been Prime Minister of Britain for just under two months, has said that the road to reforming the country will not be painless, quite the opposite.
Starmer said the autumn 2024 budget will be particularly “painful.” The Prime Minister spoke to the media after the resumption of parliamentary proceedings.
“We inherited not only an economic black hole but also a social black hole,” Starmer explained in an interview with the BBC. “That is why we must act and do things differently. Part of it has to do with being honest with people about the choices we face. And about how difficult it’s going to be. Frankly speaking, before it gets better, the situation will get worse.”
People defined as “broad-shouldered,” i.e. wealthy groups, will be hit hardest, while “as far as workers, income tax, VAT, and social security are concerned, we will not raise taxes.” Instead, tightening measures are expected on those whose tax residence is outside the UK so they pay less tax.
According to Starmer, there is a £22 billion hole in the country that needs to be filled: “We have taken the difficult decision to restore public finances so that everyone can benefit in the long term.”
The Conservatives’ view, as reported again by the BBC, is that Labour instead “created” this financial “hole” in order to have the leeway to raise taxes.
