Jeremy Hunt's Tax Cut Dilemma: Balancing the Economy and Public Perception

UK Chancellor of the Exchequer Jeremy Hunt is reportedly considering cutting income tax or national insurance for lower and middle earners in his budget update next week. He may also delay a planned reduction in inheritance tax due to concerns about benefiting the wealthiest individuals. Hunt's options are limited due to heavy state spending on the pandemic and rising energy prices, but he is expected to have some room for giveaways before running into fiscal trouble. Other potential measures being discussed include raising income tax thresholds and adjusting the reference month for linking benefits to consumer prices.