Chancellor of the Exchequer Jeremy Hunt pushed back on the prospect of imminent cuts to income tax or national insurance, following weekend reports that he’s considering doing so in his Autumn Statement this week.
“The one thing we won’t do is any kind of tax cut that fuels inflation,” Hunt said on Sky News on Sunday, when asked about the reports. “We need to show there is a path to a lower tax economy.”
Hunt is under pressure from his own Conservative Party to deliver bold economic plans in his fiscal set-piece on Wednesday, with the Tories trying to close a 20-point polling deficit against the opposition Labour Party. On Sunday Hunt reiterated his desire to boost growth with a focus on cutting business taxes.
Nevertheless, Hunt said “everything is on the table” as he and Prime Minister Rishi Sunak make their final decisions on what to include next week. The Sunday Times reported earlier that Hunt and Sunak are weighing last-minute cuts to income tax or national insurance, without saying how it got the information.
