Sunak confirms Hunt will still be Chancellor at next election despite criticism ahead of Spring Budget | Politics news

Rishi Sunak has said Jeremy Hunt will still remain chancellor at the next election after criticism that his number two does not have enough economic vision.

The Prime Minister confirmed to Sky News for the first time that Mr Hunt would remain chancellor when the next general election is held in January 2025.

“Of course,” Mr Sunak said when asked by Sky News deputy political editor Sam Coates.

Mr Hunt was criticized by businesses after a keynote speech in January about the government’s plan to boost economic growth, as they complained he did not propose new policies.

The chancellor also signaled the upcoming spring budget, will be announced by him on Wednesdaywill not contain big tax cuts – despite calls from some Tory MPs – because of the need to focus on curbing high inflation.

But Mr Sunak insisted the budget would deliver on three economic promises he made when he became prime minister: halve inflation, grow the economy and reduce debt.

“It’s important to get public sector wages right, it’s important to reduce debt to make sure we don’t pass the burden on to the next generation,” he said.

“It also ensures that we reduce inflation and keep interest rates low.”

What to look for in Jeremy Hunt’s first budget

Mr Sunak admitted that recent high interest rates had “damaged” banks in relation to the UK unit A Silicon Valley bank needs to be saved on Monday after the collapse of its US parent company, SVB America.

The Prime Minister said the Government – and Mr Hunt – was focused on growing the economy “in the best way possible to provide jobs for people across the country”.

“This is what the chancellor will announce on Wednesday, what the government will announce,” he added.

“People need to be reassured that we have already made progress, we have made huge improvements since I took over as Prime Minister last year and we will continue to do so.”