It's Too Early to Raise U.K. Taxes, Former BOE Governor King Says

The transcript discusses the UK Chancellor's challenges in managing public finances amid uncertainties. It evaluates the UK's pandemic response, highlighting the success of the vaccination program. The need for a flexible economic framework is emphasized, avoiding premature tax hikes or spending cuts. The Chancellor should reassure the public about financial management without committing to specific timelines, allowing for adjustments based on future developments.

What does the speaker suggest about the need for a framework regarding public finances?

What factors does the speaker believe will influence the decision on taxes and spending cuts in the future?