New UK finance minister warns of hike of some taxes

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Britain's new Finance Minister Jeremy Hunt said on Saturday that some taxes would go up and government spending would rise by less than previously planned as difficult decisions must be taken to restore Britain's fiscal credibility.

"We will have some very difficult decisions ahead," Hunt, who was appointed on Friday after Kwasi Kwarteng was sacked in the fallout of a disastrous fiscal statement last month, said.

Source(s): Reuters