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Sunak’s Tax Choices to Fix U.K. Debt Range From Wealth to Fuel

  • Chancellor wants to repair public finances battered by crisis
  • Election pledges may exclude raising biggest-earning taxes
Rishi Sunak
Rishi SunakPhotographer: Hollie Adams/Bloomberg

The U.K. is still in the grip of the coronavirus crisis, but political speculation is already rife on how the country will manage the ballooning debt it has run up to fight the pandemic.

With the nation still fresh from almost a decade of austerity, there’s little appetite for spending cuts to shrink a deficit on course to reach 400 billion pounds ($547 billion) this year. That puts potential tax rises in focus as Chancellor of the Exchequer Rishi Sunak prepares to set out plans in his March 3 budget to start restoring the public finances.