LONDON (Reuters) – British finance minister Rishi Sunak said he would not try to fix the public finances overnight, days before he presents a budget statement that is expected to include further heavy borrowing to steer the economy through the COVID-19 crisis.
“Look, this is not something that’s going to happen overnight. Given the scale of the shock we’ve experienced, the scale of the damage, this is going to take time to fix,” he told Sky News.
“It’s important …to also have strong public finances over time”.
Sunak declined to comment on specific tax rises he might have in mind before delivering the budget to parliament on Wednesday.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.