What tax options does Jeremy Hunt have for the autumn statement?
There is intense speculation that rather than waiting for the spring budget, Jeremy Hunt may look to try and improve the Conservatives’ political fortunes by acting sooner rather than later. So what are the main options on the table?
During his failed Tory leadership campaign in 2022, Rishi Sunak pledged that he would cut the basic rate in 2024 from 20 to 19 per cent, with further cuts to reach 16 per cent by 2029. A 1 per cent cut in the basic rate would cost the Treasury £6.5 billion a year, so it should be affordable given that the chancellor is expected to have more than £20 billion in headroom. However, having repeatedly argued that reducing personal taxes now could fuel inflation, they may