Rishi Sunak has pledged to cut taxes further where possible to reassure voters he is in a better position than Keir Starmer to end the cost of living crisis.
The Prime Minister said his plan was to “cut inflation in half and then cut taxes” despite the difficulty of significantly increasing the tax burden following the pandemic and energy crisis.
He specifically touched on the social security rebate, which will come into force on Saturday when announced in the autumn statement.
Mr Sunak told voters in Nottinghamshire: “There are big tax cuts coming this Saturday that will benefit all workers across the country. For the average working person on an average salary this costs £450.
“We want to do more because if we manage the economy responsibly, we can lower your taxes, give you and your family peace of mind, immediate relief from some of your problems and confidence that the future will be bright.” better for you and your children. This is the path we are on.”
This was confirmed by a senior Downing Street source. I: “If we can cut taxes, we will do it, and we have already proven that.”
Mr Sunak admitted 2023 “hasn’t been the easiest year for any of us, it hasn’t been an easy year for our country” but added: “I will tell you I know 2024 will be a great year.” wants to make sure that everyone who believes 2024 will be a better year will be a better year.”
The Prime Minister has been encouraged by lower-than-expected inflation figures in recent months. Some economists now forecast that inflation will fall below the 2 percent target by late spring, paving the way for rate cuts.
In his New Year’s address on Thursday, Keir Starmer indicated that Labor would not seek immediate tax cuts, despite criticism of the current record high tax burden. He said “we need to grow the economy” before cutting taxes or increasing government spending.
The Conservatives want to argue that Labor’s spending plans will require more taxes or borrowing if the Opposition comes to power.
Chancellor Jeremy Hunt said: “Sir Keir Starmer today confirmed his plans for 2030, which Labor says will cost £28 billion a year. Due to claims of fiscal responsibility, such large sums can only be financed by higher taxes, meaning increased pressure on working families and slower economic growth – just as the Conservative government begins to cut taxes.”
A Conservative source added: “Every Labor government has left office and the state is bigger than when it was created.”
Source: I News
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