Broker delivers harsh dig to Jeremy Hunt ahead of Thursday's autumn statement

14 November 2022, 17:32 | Updated: 14 November 2022, 17:49

Caller, who worked for one of the 'biggest brokers in the world', takes aim at 'Mr Hunt'

By Abbie Reynolds

At the end of his call, this broker stabs at Jeremey Hunt and his economic plans as the UK prepares to receive the Chancellor's Autumn statement this Thursday.

Today Sangita Myska questioned how much of the financial statement, set to be delivered this week, is going to be "Tory ideology" or "dogma".

Daniel in Golders Green seized the opportunity to lambast the Government finalising his call to LBC with a direct jab at the current Chancellor of the Exchequer: "I'll tell you one thing for sure, Mr Hunt, your tax rises are going to gonna put us in a deep recession!"

The caller explained how he had worked on a bond desk for almost a decade and therefore had a deep understanding of the type of decisions Rishi Sunak and Jeremy Hunt are faced with to "appease financial markets".

Sangita Myska was overjoyed to have the perspective of a caller who understood the bond markets.

"I think his decisions to bring in what he believes - what in his own words Jeremy Hunt said - are eyewatering taxes and eyewatering decisions are complete madness", he began.

He defended his views by listing the increasing costs the UK faces saying, "people are struggling, the last you want to do, going into recession with interest rates at the highest level in twenty years, is to raise taxes again".

"It's complete madness," he declared, "you will not generate the tax revenue for the Treasury by piling on more taxes to already struggling people, families or businesses. It just won't work.".

This comes after Jeremy Hunt said he "will be asking everyone for sacrifices" in the Autumn fiscal statement this Thursday, with a plan to increase taxes.

READ MORE: Tax hikes for all: Every Brit must be braced to pay more, Hunt warns ahead of new budget

Sangita levelled with the caller dissecting government plans to hike taxes and cut public spending, saying: "It literally makes no sense to me...I don't get it."

The caller shared her confusion: "I can't understand what the Conservatives are doing, it is madness!

"What they are going to do with the upcoming cuts from public services like you said and the rise in taxes, you're going to end up with more people on benefits you're going to end up with more businesses closing down. Businesses that are already struggling, they are going to lay off employees, they're going to go onto job seeker's allowance and other benefits."

His parting statement came: "It's completely bonkers, it's madness.

'...If what the Bank of England has said is correct, which it may be, that we were or are in a very shallow recession - well I'll tell you one thing for sure Mr Hunt, your tax rises are going to gonna put us in a deep recession, unfortunately!"

Sangita Myska is taken aback by this caller who blames inflation on the BoE