Britain's finance minister Rishi Sunak said on Tuesday his priority was saving jobs when asked about the possibility of tax rises to pay for the soaring cost of the COVID-19 pandemic."My overwhelming focus at the moment is trying to protect and support as many jobs as possible," he said, declining to comment on future tax policy.
Sunak's emergency spending measures, including subsidies to slow a jump in unemployment, will cost about 200 billion pounds this year and have already pushed public debt over 2 trillion pounds , or 100% of gross domestic product. While Sunak has refused to rule out tax increases, experts say he is unlikely to be in a hurry to turn his focus to shrinking the budget deficit, given the parlous state of the economy.
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