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Budget Update

All articles tagged with #budget update

economy2 years ago•2 min saved

"Jeremy Hunt's Tax Cuts: A Cynical Pre-Election Ploy Ignored Amidst Britain's Burning Economy"

British finance minister Jeremy Hunt has stated that he will not implement tax cuts that would contribute to inflation, ahead of his upcoming budget update. Hunt is under pressure from some Conservative lawmakers to deliver tax cuts, but he emphasized the need for responsible fiscal policies. The British economy has shown signs of improvement, and Hunt's priority is to boost growth. While options for tax cuts are limited due to heavy state spending and high public debt, Hunt aims to demonstrate a path towards lower taxes by improving public spending efficiency.

via Reuters UK|

#british-finance-minister #budget-update #economic-growth

economy2 years ago•1 min saved

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.

via Reuters UK|

#budget-update #economy #income-tax