Less than 24 hours into his new position in the UK Government, the UK Treasury Secretary, Jeremy Hunt, has given his first interview and has acknowledged this Saturday that tax plan presented by his predecessor, Kwasi Kwartengthree weeks ago contains “error” which will be corrected in a new version which he himself will announce on October 31st. Her first interview as a minister in the Liz Truss government is on the channel ‘SkyNews’where Hunt admits guilt for wanting lower taxes for the richest in times of economic hardship.

“It was a mistake to lower the rate (from 45% to 40%) for the rich when we were about to ask for tough decisions on taxes and spending,” he said. In the same way, he announced that the Executive led by Liz Truss should take “hard” action to balance the accountwhich would involve asking all ministries to present austerity plans and submit some tax cuts.

“Spending isn’t going to go up as much as people would like, and we’re going to have to look for more savings, and we’re not going to have the tax cuts I expect, so there’s going to be some that have to go up. The situation we’re in we’re dealing with,” he added.

Prime Minister Liz Truss yesterday fixed her plan to keep corporate taxes at 19% and restored the previous Boris Johnson Government project to raise it to 25%after the financial storm unleashed by the “mini-budget proposed by the former Minister of Economy Kwasi Kwarteng.

After all, Hunt said that saving rate will not return implemented in 2010, after the outbreak of the financial crisis, by the Government of David Cameron. And although he has stated on many occasions in favor of lowering taxes, he admits that “it doesn’t make sense to do it shift to more debt”.