The Sun, November 5, Sir Iain Duncan Smith MP
These are worrying economic times.
Interest rates — and the cost of our mortgages — are soaring, we are predicted to head into the longest recession in 100 years, and unemployment is expected to rise again.
Our Chancellor, Jeremy Hunt, has the unenviable task of trying to start fixing our finances in his hotly anticipated Budget on November 17 (or fiscal event, as the Government calls it).
We have heard lots of gloomy briefings about a terrifying £50billion black hole in our finances.
Treasury insiders have merrily briefed that we must whack taxes up to eye-watering levels AND slash tens of billions of pounds from public spending to make the sums add up.
But I would urge caution when it comes to this plan for tax rises.
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