Business secretary plays down prospect of major tax rises in budget

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Kwasi Kwarteng says emphasis now is on trying to provide critical support rather than reducing deficit

The business secretary, Kwasi Kwarteng, has played down the prospect of significant tax increases to start reducing the deficit in the public finances in Wednesday’s budget.

While the chancellor, Rishi Sunak, has said the country cannot not “go on spending money for ever”, Kwarteng said the priority for now was to support the economy.

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