Jeremy Hunt hints Brits in line for more tax cuts in just weeks as inflation steadies
JEREMY Hunt last night hinted that more tax cuts could be approved in just weeks.
At the World Economic Forum in Davos, the Chancellor said he wants Britain to be more “dynamic” following in the foot-steps of low tax America and Asia.
The Chancellor insisted he wants to reduce the 70-year high tax burden at the Budget at the start of March.
He was speaking in Switzerland after cuts to National Insurance were introduced earlier this month for workers.
They were slashed in November's Autumn Statement, where the Chancellor also eased business taxes and froze alcohol duty.
Mr Hunt told Sky News: “I believe fundamentally that low-tax economies are more dynamic and more competitive, and in the end, generate more wealth for public services like the NHS.
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“My priority in the budget will be growth, because if I can grow the economy, that will mean that then we have more money for the NHS.
“We can relieve the pressure on families, we can invest in our brilliant armed forces, all the things that really matter.”
The Chancellor was echoed by Rishi Sunak, who confirmed this morning that he would "like to be able to do more" cutting of taxes "when it is responsible to do so".
The PM told BBC Radio Solent: "It was important for me to be able to cut people's taxes and that is because the cost of living has been probably the dominant issue of my time as Prime Minister.
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"And I always said, once we halved inflation, which we did last year, from 11% down to 4%, got control of borrowing and welfare, we would be able to cut people's taxes and a few weeks ago we delivered on that.
"People work really hard and making sure they can keep more of that money to spend on the things they want, I think that is something people want - I wanted to deliver that and I'm pleased we were able to do that.
"And I would like to be able to do more when it is responsible to do so."
Mr Hunt also warned about regulation of rapidly-developing Artificial Intelligence, calling on talks with China ensuring there is no tech arms race between superpowers.
He said: “We also need guard-rails to make sure a rogue actor isn’t going to be able to use AI to build nuclear weapons.”
Tax cuts are seen by many Tory MPs as crucial to overturning dismal polling.
Backbenchers have told Sunak he must return to Tory principles and continue bringing the tax burden now.