UK’s Hunt Sees No Room for Tax Cuts, Warns of Inflation Risk
- Chancellor Hunt says cutting taxes would be inflationary
- Conservatives trying to close double-digit poll gap on Labour
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Jeremy Hunt said he has no leeway to cut UK taxes at present, putting the Chancellor of the Exchequer on a collision course with Conservative colleagues who want to see tax cuts to boost their party’s electoral prospects.
In a Bloomberg TV interview, Hunt warned that lowering taxes now would stoke inflation, which would hit the finances of ordinary Britons. He also said that the UK doesn’t have the fiscal power to fund such a move.