Large tax rises from Jeremy Hunt ‘could put UK at risk of deeper slowdown’

Such a move may force Bank of England to rethink interest rates approach, says its chief economist

Britain risks a deeper than expected economic slowdown if Jeremy Hunt sets out large tax rises and spending cuts at next week's autumn statement, the Bank of England's chief economist has warned.

Huw Pill said a tough fiscal settlement from the chancellor could weigh on the British economy by more than the central bank currently anticipates, in a development that would force it to rethink its approach to setting interest rates.