UK PM Starmer warns of ‘painful’ higher taxes to fix Britain’s ‘economic black hole’
- Starmer warned of tax hikes for the wealthy, and the need to address societal divisions exacerbated by the previous government’s policies
Prime Minister Keir Starmer said he would likely need to impose “painful” higher taxes on the wealthy as part of his plan to overhaul Britain and rid it of the rot he said had set in during 14 years of Conservative rule.
Starmer, whose Labour Party won a landslide election victory in July, has vowed to rebuild the fabric of British society, saying this month’s anti-migrant riots reflected divisions that have taken hold, stoked by the Conservatives’ preference for populism over problem-solving.
But he used a speech in the Rose Garden of his Downing Street office to warn that any change would take time.
He said he was willing to take unpopular decisions, including saying those with the broadest shoulders should be expected to carry the heaviest burden in the October 30 budget – short-term pain for long-term good.
“We have inherited not just an economic black hole but a societal black hole, and that is why we have to take action and do things differently. Part of that is being honest with people about the choices we face and how tough this will be,” he said.
“Frankly, things will get worse before we get better.”
Addressing an audience of people he met during this year’s election campaign such as apprentices, teachers, nurses and small business owners, Starmer said he was determined to rebuild trust in government and fix the foundations of the country.
