Raise Taxes to Curb Inflation, Leading UK Economist Tells Sunak

The UK government should raise taxes to help the Bank of England tame soaring prices if it’s serious about cutting inflation in half this year, according to Standard Chartered’s head of research for Europe and the Americas.

Sarah Hewin said Chancellor of the Exchequer Jeremy Hunt should consider “income and wealth taxes” to support the central bank’s relatively “blunt tool” of raising interest rates.

Prime Minister Rishi Sunak made slashing inflation one of his key priorities this year, but reaching that target is proving tougher than expected. At 8.7%, the headline rate is more than four times the 2% official ...