"U.K. Tax Cuts: Sunak's Election Strategy for a Stagnant Economy"

The UK government plans to cut taxes for millions of workers in an effort to revive the stagnant economy and improve its electoral chances ahead of the upcoming general election. The tax cuts include a reduction in national insurance by two percentage points, tax breaks for business investment, and lower taxes for the self-employed. However, while these measures may generate positive headlines, they only offset a fraction of the increased tax burden caused by frozen income tax thresholds. The country's economic outlook remains weak, with slow growth, high inflation, and a rising debt pile.