Analysis: Jeremy Hunt is only six weeks into the job but he spent as many years as health secretary, and his manner was that of a medic with grave news | PKelso
"We are going to have to increase taxes and cut public spending to show that we are a country that can pay our way," he told Sky News' Sophy Ridge on Sunday programme.These are not words Conservative chancellors go into the job dreaming of uttering, but they are based on a diagnosis of the economy Mr Hunt shares with Rishi Sunak, not long out of the job himself and by some accounts still trying to do it from No 10.
That calculation matters because it demonstrates that the government has a plan to cover its own costs, rather than endlessly borrow to pay for essential services. That gives confidence to investors which in turn makes it cheaper to borrow in the first place. Mr Kwarteng's problem was he presented a plan that did not add up under the rules he said he was sticking to. The Hunt-Sunak challenge is that economic credibility can only be regained by demonstrating a willingness to fill that gap.Three PMs in three months: A timeline
If that is the economic reasoning behind Mr Hunt's relentlessly austere messaging since he took the job, how and if he achieves it is political.
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