CITY AM – Hunt hints at tax cuts for UK businesses
Hunt says his ‘priority is backing British business’ as he hints at tax cuts
CITY AM SAYS Jeremy Hunt has hinted that the autumn statement may contain more tax cuts for businesses in a bid to fire up the UK’s economy.
Just days ahead of Wednesday’s landmark fiscal event, the Chancellor, speaking on Times Radio, said that his “priority is backing British business” and introducing measures to “unlock growth”.
“I think it’s important for a productive, dynamic, fizzing economy that you motivate people to do the work, to take the risks that we need,” he told Sky News.
He stressed that “lower tax is essential to economic growth”.
But he consistently ruled out changes that would risk fuelling inflation after a year of tight fiscal control, which has seen Prime Minister Rishi Sunak hit his target of halving inflation, now at 4.6 per cent.
Muting predictions for cuts to income tax or national insurance, Hunt added: “The one thing we won’t do is any kind of tax cut that fuels inflation… we’re not going to throw that away.
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