British Chancellor of the Exchequer, Jeremy HuntHe admitted it on Monday UK taxes ‘too high’But he ruled out reducing it in the short term, despite internal pressure in the Conservative Party in this regard.
“We want to reduce themHunt told the BBC on the second day of the Conservatives’ annual conference in Manchester, but stressed that “there are no shortcuts” to boosting growth, which is a prerequisite before taking that step.
The minister also warned against this A hasty reduction may lead to persistent inflation in the UK.
before The flaw in polls From the Conservative Party One year before the next general election, many voices in the party are pressuring Prime Minister Rishi Sunak’s government to announce measures that benefit the pockets of businesses and citizens.
One of them is the former Prime Minister Liz Trusswho has emerged as one of Sunak’s main critics, despite the fact that his short-lived CEO caused a financial storm in 2022 with a major tax cut.
The former Conservative Party leader will participate in the Conservative conference today and will insist that corporation tax must be reduced from the current 25% to 19% in order to “unleash the potential of British businesses.”
His proposals have the support of at least 30 MPs who signed a letter confirming that they will not vote for the next budgets presented by Hunt if they include tax increases.
But the Minister of Economy confirmed that he will continue the same strategy that he has defended since he took over the portfolio a year ago. “The way to win elections is to make promises that people can believe. We’re honest with people, there are no shortcuts to cutting taxes“, he told GB News.
“If I announced a big tax cut this year, that would lead to inflation, because we would be putting more money in citizens’ pockets, which would increase demand and ultimately lead to higher prices as well,” added Hunt, who will deliver a speech. To Conservative MPs in Manchester this afternoon: “This is not the best time.”
Perpetual fighting between Tory factions is expected to take place this year The ultra-liberal wing of the party is led by Truss And its entourage, in favor of reducing taxes and reducing the weight of the state, and for the group that leans to the political right that it sees in the Minister of the Interior, Suella BravermanHe is a good candidate to capitalize on anti-immigration rhetoric.
Both sectors will try to gain traction in Manchester, with the focus on the election platform that Sunak must draw up in the coming months and the profound renewal that will eventually occur if the party turns to opposition.
Despite the financial disaster Truss caused during her short time in Downing Street, her supporters retain an influential voice: “They want to preserve the ideology and legacy of[Margaret]Thatcher,” Clift commented.
He added that Braverman, who this week called for a reduction in rights under the UN refugee convention, “has big ambitions and clearly sees herself as a potential leader.”
(With information from EFE)
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