Rishi Sunak is plotting a 2p tax cut 'before the next general election', even if inflation doesn't fall as much as hoped
Ministers think that the cut, which could come to income tax or national insurance, would be possible even if inflation proves 'stickier' than expected.
The Prime Minister has said previously that he only wants to cut taxes once the economy is on a surer footing, and has pledged to halve inflation by the end of 2023.Many in his party want him to cut taxes, despite growing demand for public services and increasing strain on the NHS.LBC: Tory MP Sir John Redwood says increased tax cuts will help with cost of living crisis
The 2p tax cut could "incentivise work" and help encourage more people to get back into jobs, the Telegraph reported."He wants to incentivise work, as you can see from what DWP [the Department for Work and Pensions] and the Treasury have been doing on getting people back to work." The move would be based on the principle that "work is good for people and it’s good for the wider economy as well".Picture:
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