UK chancellor says high public borrowing is “immoral”

Speaking amid criticism from some Conservative party members regarding the proposed government tax rises, Rishi Sunak said: “Whilst I know tax rises are unpopular. Some will even say un-Conservative.

“I’ll tell you what is un-Conservative. Unfunded pledges. Reckless borrowing. And soaring debt.

“Anyone who tells you that you can borrow more today, and tomorrow will simply sort itself out just doesn’t care about the future. Yes I want tax cuts. But in order to do that, our public finances must be put back on a sustainable footing.”

Speaking at this week’s Conservative party conference in Manchester, the chancellor also said “just borrowing more money” is “not just economically irresponsible, it’s immoral”.

He added: “Because it’s not the state’s money. It’s your money. I believe that the only sustainable route out of poverty comes from having a good job.

“It’s not just the pounds it puts in your pockets. It’s the sense of worth and self-confidence it gives. So I will do whatever I can to protect people’s livelihoods, and create new opportunities too.”