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Rishi Sunak won backing from lobby groups for big business yesterday after he set out his vision for the UK economy.

The Chancellor said our national debt was almost 100% of GDP, and that we needed to get our public finances in order, stating financial recovery would come at a cost.

He defended the recent National Insurance tax hike to fund the NHS and social care.

"While taxes are unpopular, some will even day un-Conservative, I'll tell you what un-Conservative: underfunded pledges, reckless borrowing and soaring debt," he said.

"Anyone who tells you you can borrow more today and tomorrow will simply sort itself out just doesn't care about the future."

Chancellor Rishi Sunak.
Chancellor Rishi Sunak.

Small firms say his tax rises are risk to economic recovery.



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