Jeremy Hunt's Tax Cuts: A Controversial Solution to Britain's Financial Gap
British Chancellor of the Exchequer Jeremy Hunt plans to rely on savers to fill the gap in public finances by increasing the amount expected from National Savings & Investments (NS&I) in the Autumn Statement. NS&I has seen a surge in deposits due to higher interest rates, prompting the savings provider to raise its net funding target. The increased reliance on savers may reduce the need for government debt issuance, with economists suggesting NS&I's funding target could be raised by at least £5bn. The government aims to announce a reduction in UK gilt sales alongside modest tax cuts to boost investment and economic growth.