Your Sunday UK Briefing: Hunt Warns to Brace for Higher Taxes [BNN Bloomberg (Canada)]
CK HUTCH HLD LTD UNSP/ADR (CKHUY)
NASDAQ:AMEX Investor Relations:
ckh.com.hk/en/ir
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Source: BNN Bloomberg
The big squeeze: Britain's plan to repair its damaged public finances will finally emerge on Thursday in the midst of an intensifying cost-of-living crisis. Chancellor Jeremy Hunt delivered a message Sunday about the plan that could be summed up as: No pain, no gain. In interviews on morning news shows, Hunt said everyone would have to pay more in tax to close a gaping budget hole, but that would help make a recession “short and shallow” and ensure the UK becomes one of Europe's most prosperous countries. That may be a tall order as the UK remains the only Group of Seven nation that has yet to fully recover from the pandemic. The big stat: Will inflation remain in double digits? Bloomberg Economics is estimating a whopping 10.8% on Wednesday on the heels of an economic contraction in the third quarter. Things are just as bad in Europe, where a second reading of euro-area CPI on Thursday will likely confirm inflation accelerated by 10.7%. Clues on the Bank of England's intentions ma
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