British Prime Minister Keir Starmer said in London today that his country's previous government had bequeathed a "hole" in the expenditure part of the country's current budget, which is in the amount of 22 billion British pounds (26.3 billion euros), reported Reuters, quoted by BTA.
Sturmer, whose Labor party won a landslide victory in Britain's general election on July 4, said the situation was forcing him to make "some tough decisions". One of them envisages limiting the payment of energy benefits received by British citizens who have reached retirement age.
The British Prime Minister's statement increases the likelihood of other unpopular measures being taken. Among them are likely to increase the taxation of the income of wealthy taxpayers and reduce budget spending, according to Reuters.
"In October, a draft budget (for 2025 - note ed.) is set, which will be painful. We have no choice...", Keir Starmer pointed out.
Those taxpayers who have greater financial capabilities should bear a greater burden, noted the British Prime Minister. His statement is related to the parameters of the draft budget of the country, which is scheduled to be presented on October 30, according to Reuters.
British public debt is at its highest level in net terms since the early 1960s. Against this background, the tax burden in the UK is on track to rise to an almost 80-year high, according to Reuters.