UK Finance Chief Warns Pandemic Could Force Tax Increases

Law360 (October 6, 2020, 8:56 PM EDT) -- Britain faces the possibility of tax increases to help pay the cost of the COVID-19 pandemic and to enable the government to fulfill its responsibility of balancing budgets for future generations, the U.K.'s top financial official said.

Chancellor of the Exchequer Rishi Sunak told an online conference of his Conservative Party on Monday that the government can't "simply borrow our way out of any hole" and that "hard choices" lie ahead for the country.

Sunak suggested the British public would buy the government's reasons for tax increases, given the scale of public spending this year and that U.K. leaders would have...

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