RISHI Sunak hopes to have a £7bn warchest to splurge before the next election – if his Chancellor’s brutal budget this week works.
The nation is bracing for Jeremy Hunt’s Autumn Statement which will slash £35 billion in public spending while hiking taxes to raise £25 billion.
But Tory MPs have been told there is “hope on the horizon” provided Mr Hunt’s plan is a sucessful at slashing inflation by the middle of next year, while also filling a £55 billion blackhole in the nation’s coffers and shortening a predicted two year recession.
Writing in the Sun on Sunday ahead of Thursday’s annoucement Mr Hunt warned: “I wish I could paint a better picture, or tell Sun on Sunday readers that everything will be fine. But I can’t do that.”
However he said he would protect the most vulnerable, and admitted for the first time the richest people and businesses will take the brunt.