UK’s new finance minister admits taxes to rise as PM reels [Video]

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Britain’s new finance minister Saturday warned of looming tax hikes as he admitted to “mistakes” made in a disastrous budget that still threatens to bring down Prime Minister Liz Truss.

“Truss fights for survival,” The Times newspaper headlined a day after she forced chancellor of the exchequer Kwasi Kwarteng to carry the can for market turmoil sparked by their budget on September 23.

The Times, Telegraph and other newspapers reported that senior Conservative members of parliament were still plotting to unseat Truss, possibly within days, aghast at the party’s collapse in opinion polls since she replaced Boris Johnson on September 6.

New chancellor Jeremy Hunt indicated he would be tearing up the strategy that brought Truss to 10 Downing Street.

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