London Daily

Focus on the big picture.
Sunday, Feb 22, 2026

No tax rise 'horror show', Sunak tells Tory MPs

No tax rise 'horror show', Sunak tells Tory MPs

Chancellor Rishi Sunak has reassured recently-elected Tory MPs there will not be a "horror show of tax rises with no end in sight", as the government deals with the costs of coronavirus.


He urged the 2019 Conservative intake to show trust to overcome the "short-term challenges" the party faces.

Some MPs have expressed fears U-turns are hurting the government's standing.

Mr Sunak accidentally revealed the wording of his statement while holding his notes outside 11 Downing Street.

The Conservative Party, which won an 80-seat majority at December's general election, has seen its opinion poll lead over Labour cut in recent weeks.

This has led to concerns among some MPs who won seats in traditional Labour heartlands in the Midlands and northern England, known previously as its "red wall".

An unnamed "red wall" Conservative told the Press Association MPs in these areas, and others in marginal seats, were "jittery" following a series of U-turns on subjects including exam results, the wearing of face coverings and school meal funding. They described the situation as a "megadisaster".

And Sir Geoffrey Clifton-Brown, treasurer of the 1922 Committee of Tory MPs, warned against "own goals", saying: "We may have a big majority but that still doesn't mean to say that we shouldn't be as competent as possible as a government."


A photographer picked up the words in Rishi Sunak's statement


It was reported at the weekend that substantial corporation tax rises and capital gains tax changes are being considered by the Treasury to deal with the enormous costs of coronavirus. But the government dismissed this as "speculation".

The wording of Mr Sunak's statement, read out during a meeting in Parliament on Wednesday with Tory MPs first elected in 2019, which the prime minister also attended, was revealed when a photographer noticed the chancellor holding a script sheet while leaving 11 Downing Street.

It read: "We will need to do some difficult things, but I promise you, if we trust one another we will be able to overcome the short-term challenges."

Referring to the reports that there could be tax increases to pay for costs incurred during the pandemic, including the furlough scheme, it added: "Now this doesn't mean a horror show of tax rises with no end in sight."

It continued: "But it does mean treating the British people with respect, being honest with them about the challenges we face and showing them how we plan to correct our public finances and give our country the dynamic, low-tax economy we all want to see."


Analysis


By Leila Nathoo, political correspondent

With more MPs back at Westminster, the prime minister and his chancellor took the opportunity to reassure restless Tory backbenchers about the government's strategy.

How to pay for the huge package of interventions to deal with the pandemic and its effects is at the forefront of Rishi Sunak's mind ahead of the Budget later this autumn.

Borrowing has ballooned and the prime minister has already promised there will be no return to austerity.

But there is nervousness among Tory MPs about rumours of tax rises and about the government's decision-making and messaging more broadly.

Mr Sunak told his Conservative colleagues that ministers needed to show people the plan for correcting public finances. He faces difficult choices while devising it.

Government sources denied the revelation of the chancellor's words in this way was "embarrassing", adding that they would have become a matter of public record anyway.

Discussing the coronavirus crisis, Boris Johnson told the MPs: "I know it's been tough. I've got to warn you, it's about to get tougher. The waters are about to get choppier. But we are going to deal with it."

The prime minister later addressed a meeting of all backbench Conservative MPs, with the 1922 Committee getting together for the first time since Parliament's summer recess.

One MP present said he had been "full of beans", while a minister added that both the day's meetings had been about "calming the troops".

Newsletter

Related Articles

0:00
0:00
Close
UK Government Weighs Removing Prince Andrew from Line of Succession After Arrest
Prince Andrew’s Arrest in UK Rekindles Scrutiny Over US Handling of Epstein Records
Trump’s Strategic Warning to UK Over Chagos Islands Deal Sparks Diplomatic Whiplash
Starmer Government Postpones Local Elections Affecting 4.5 Million Voters
UK Economy Remains Fragile Despite Recent Upturn in Headline Indicators
UK Businesses Face Fresh Uncertainty Following US Tariff Ruling
Reform UK’s Senior Figures Face Scrutiny Over Remarks on Women and Family Policy
UK Electric Vehicle Drive Threatened by Shortage of 44,000 Qualified Technicians
University of Kentucky Trustees Advance Academic Reforms and Approve Coliseum Plaza Purchase
Boris Johnson Calls for Immediate Deployment of UK Troops to Support Ukraine
OpenAI CEO Sam Altman praises the rapid progress of Chinese tech companies.
North Korea's capital experiences a significant construction boom with the development of a new city district dubbed 'Pyonghattan'.
New electric vehicle charging service eliminates waiting times
Vox Populi confronts Justin Trudeau at Davos over vaccination policies
Poland's President Karol Nawrocki ENDS support for Ukrainian citizens:
The mayor of Rotherham in Britain
One day after ex-Prince Andrew's arrest, British police are searching his former home, while U.K. lawmakers will consider introducing legislation to remove him from the line of royal succession
Vandana Shiva reminding the world that Bill Gates did not invent anything.
Italy's PM Giorgia Meloni highlights record employment and economic growth
UK Confirms Preferential U.S. Trading Terms Will Continue After Supreme Court Tariff Ruling
U.S. and U.K. to Hold Talks on Diego Garcia as Iran Objects to Potential Military Use
UK Officials Weigh Possible Changes to Prince Andrew’s Position in Line of Succession Amid Ongoing Scrutiny
British Police Probe Epstein’s UK Airport Links and Expand High-Profile Inquiries
The Impact of U.S. Sanctions on Cuba's Humanitarian Crisis: A Tightening Noose
Trump Directs Government to Release UFO and Alien Information
Trump Signs Global 10% Tariffs on Imports
United Kingdom Denies U.S. Access to Military Base for Potential Iran Strike
British Co-founder of ASOS falls to his death from Pattaya apartment
Early 2026 Data Suggests Tentative Recovery for UK Businesses and Households
UK Introduces Digital-First Passport Rules for Dual Citizens in Border Control Overhaul
Unable to Access Live Financial Data for January UK Surplus Report
UK Government Considers Law to Remove Prince Andrew from Royal Line of Succession
UK ‘Working Closely with US’ to Assess Impact of Supreme Court Tariff Ruling
Trump Criticises UK Decision to Restrict Use of Bases in Potential Iran Strike Scenario
UK Foreign Secretary and U.S. State Chief Hold Strategic Talks as Tensions Rise Over Joint Air Base
Two teens arrested in France for alleged terror plot.
Nordic Fracture: How Criminal Scandals and Toxic Ties are Dismantling the Norwegian Crown
US Supreme Court Voids Trump’s Emergency Tariff Plan, Reshaping Trade Power and Fiscal Risk
King Charles III Opens London Fashion Week as Royal Family Faces Fresh Scrutiny
Trump’s Evolving Stance on UK Chagos Islands Deal Draws Renewed Scrutiny
House Democrat Says Former UK Ambassador Unable to Testify in Congressional Epstein Inquiry
No Record of Prince Andrew Arrest in UK as Claims Circulate Online
UK Has Not Granted US Approval to Launch Iran Strikes from RAF Bases, Government Confirms
AI Pricing Pressure Mounts as Chinese Models Undercut US Rivals and Margin Risks Grow
Global Counsel, Advisory Firm Co-Founded by Lord Mandelson, Enters Administration After Client Exodus
London High Court dispute over Ricardo Salinas’s $400mn Elektra share-backed bitcoin loan
UK Intensifies Efforts to Secure Saudi Investment in Next-Generation Fighter Jet Programme
Former Student Files Civil Claim Against UK Authorities After Rape Charges Against Peers Are Dropped
Archer Aviation Chooses Bristol for New UK Engineering Hub to Drive Electric Air Taxi Expansion
UK Sees Surge in Medical Device Testing as Government Pushes Global Competitiveness
×