UK's Sunak says it is too soon to talks about post-Covid spending cuts
"It’s premature right now to speculate about that far in the future"
FILE PHOTO: Chancellor of the Exchequer Rishi Sunak leaves Downing Street, following the outbreak of the coronavirus disease (Covid-19), London, Britain, May 4, 2020. REUTERS/John Sibley/File Photo
British finance minister Rishi Sunak said it was too soon to look at how to fund the longer-term financing cost of measures to mitigate the impact of Covid-19, following a newspaper report that officials were recommending tax rises or spending cuts.
"It's premature right now to speculate about that far in the future. We are living through a time of unprecedented economic uncertainty," Sunak told Sky News on Wednesday.
The Daily Telegraph newspaper said officials had told Sunak that 25-30 billion pounds of tax rises or spending cuts would be needed to cover extra borrowing costs under its main scenario, rising to 90 billion pounds in a potential worst case.
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