Sunday 19 June 2022 12:43 PM Gordon Brown predicts Rishi Sunak will have to cut taxes this autumn and warns ... trends now
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Former prime minister Gordon Brown today predicted Chancellor Rishi Sunak will have to slash taxes later this year as he warned of a 'global recession' in a repeat of the 1930s.
The ex-Labour premier, who was also Chancellor for 10 years in the New Labour government, suggested Mr Sunak would have to reverse his planned six percentage point rise in Corporation Tax.
Mr Brown also insisted the Treasury would have to do more to help Britons with the soaring price of fuel during the cost-of-living crisis.
He claimed the rate of inflation could actually go higher than the 11 per cent forecast by the Bank of England.
And he despaired at how the world is 'leaderless' in the face of a crisis he likened to the beginning of the Second World War.
In last year's Budget, Mr Sunak announced that Corporation Tax would increase by six percentage points, from 19 per cent to 25 per cent, in 2023.
He argued this was necessary following the Government's huge outlay during the Covid pandemic.
But senior Tories this week backed Boris Johnson to put pressure on the Chancellor to reverse the planned increase.
It followed claims the Prime Minister is gearing up for a 'big fight' with Mr Sunak over the
