UK’s self-billed ‘Scrooge’ promises tax rises, spending cuts

LONDON (AP) — Britain’s Treasury chief, Jeremy Hunt, has warned that a spending crunch and tax increases are on their way as he bids to fill the “black hole” in the country’s finances. Billing himself as a “Scrooge” figure ahead of Thursday, when he will update parliament on the government’s budget measures, Hunt said he will make “very difficult decisions” to curb inflation and put the economy back on an even keel. He says he is determined to make an expected recession as shallow as possible, warning that everyone can expect to pay more taxes. Hunt is seeking to make up to 60 billion pounds ($71 billion) in savings and extra revenue to undo some of the damage economists say was done by his predecessor and former Prime Minister Liz Truss.