Actually I think Rishi will need to spend more to get us out, the alternative (proper austerity) would not be acceptable and I believe would damage the economy.
Rishi needs money to be moving round, taxing does the opposite and tends to be repressive. I truly believe the only way out of this one is to spend on sound investments. I hope to see spending (not rubbish like HS2) in the North to generate jobs and wealth, get the manufacturing going, yes with State aid initially (which is why Boris must not bow to the French) and this will feed into the economy.
Lowering of Corporation tax would also be good to tempt companies to the UK. Labour never get this but a small amount from a large number is better than a large amount from a small number of people.