Chancellor rules out tax rises and vows to cut spending in autumn statement as borrowing rises up to £30bn more than forecast
The chancellor, Jeremy Hunt, has warned that the government will need to take “difficult decisions” in next month’s autumn statement after a sharp worsening of the public finances over the past six months.
Hunt said state borrowing was on course to be £20bn to £30bn higher than predicted at the time of the budget in March – wiping out what little room he had to cut taxes.
