Rishi Sunak said - Time has come to take tough decisions, now we are ready to deal with the challenges

Indian-origin British Prime Minister Rishi Sunak has once again reiterated his point that he will have to take tough decisions. Sunak said the time has come to take such decisions and Britain is ready to meet the challenges. On Friday, he said his government would have to take some "very difficult decisions", but assured people that he would act with compassion when dealing with the country's "deep economic crisis".

"Finance Minister Jeremy Hunt has said that tough decisions need to be taken. I am going to work with him on these decisions," PM Sunak told the media. He said Britain needed to channel its borrowings and debt in a way that could cement the country's economic growth path. "As a country, we are facing a lot of challenges, but I am sure we can fix the economy," he said.

British media reports claim the Sunak government is reportedly preparing for a tax hike and up to £50 billion in public spending cuts. Prime Minister Rishi Sunak is said to have spent time preparing a spreadsheet on Thursday with Chancellor Jeremy Hunt. Earlier Finance Minister Jeremy Hunt himself had stressed that economic stability and credibility are essential foundations for all other policies.

Sunak said it was a complex and challenging issue, but the public expected the government to find a "long-term solution". Meanwhile, the UK government has delayed its budget by more than two weeks and has given Sunak some time to make tough choices about how to deal with the country's economic crisis. According to a statement from the Finance Department, the government's medium-term financial plan will now be presented by Finance Minister Hunt on November 17.