© Reuters. FILE PHOTO: FILE PHOTO: British Chancellor of the Exchequer Jeremy Hunt leaves Downing Avenue in London, Britain, September 13, 2023. REUTERS/Toby Melville/File Photograph
LONDON (Reuters) – British finance minister Jeremy Hunt mentioned on Sunday that he wouldn’t implement tax cuts that may push up inflation.
The Sunday Occasions reported that Hunt was contemplating reducing earnings tax or nationwide insurance coverage in his Autumn Assertion funds replace on Wednesday.
“The one factor we can’t do is any form of tax minimize that fuels inflation,” Hunt advised Sky Information.
When requested if he would minimize inheritance tax – a transfer the Sunday Occasions mentioned could possibly be delayed owing to unhealthy press – Hunt mentioned “every thing is on the desk” forward of his assertion.
He mentioned the one solution to convey taxes down was to spend public cash extra effectively.