Tax cuts for businesses may be prioritised over personal taxes before the next general election, the Chancellor has signalled. “My party understands better than others the importance of low taxes in creating incentives and fostering the animal spirits that spur economic growth,” said Mr Hunt. “Another Conservative insight is that risk-taking by individuals and businesses can only happen when governments provide economic and financial stability. “So the best tax cut right now is a cut in inflation.”Mr Hunt elaborated on tax cuts in an interview with the Times, strongly suggesting that taxes for businesses would come down before those for workers. “Our plan for growth is necessitated, energised and made possible by Brexit,” he said.

Source: The Times January 28, 2023 17:09 UTC