Sunak: UK inflation has not reached wages yet
British Chancellor of the Exchequer Rishi Sunak said on Monday that the rising inflation has not yet influenced wages in the United Kingdom. In an interview for the BBC, he repeated the Bank of England’s stance that the current price surge is transitory and that it will not negatively impact the cost of living.
Sunak did not rule out a tax cut before the general election, following the government’s decision to increase taxes in the light of the coronavirus pandemic. However, he did not deny the possibility of an income tax hike if necessary. On unemployment, the chancellor conceded the end of the furlough scheme could result in higher unemployment. “But what I do know is that the interventions we put in place have made an enormous difference,” he stated.
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