Raise Taxes to Curb Inflation, Leading UK Economist Tells Sunak
- Standard Chartered’s Hewin says fiscal action will help BOE
- Comments follow similar call from former BOE ratesetter Barker
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The UK government should raise taxes to help the Bank of England tame soaring prices if it’s serious about cutting inflation in half this year, according to Standard Chartered’s head of research for Europe and the Americas.
Sarah Hewin said Chancellor of the Exchequer Jeremy Hunt should consider “income and wealth taxes” to support the central bank’s relatively “blunt tool” of raising interest rates.