Hunt: The priority should always be business tax cuts... to generate wealth

JEREMY Hunt hopes to kickstart the economy by slashing business taxes in his Autumn Statement.

- Martyn Brown

The Chancellor told the Daily Express it is his "priority" as he seeks to boost growth.

Improved public finances have raised hopes there is plenty of wriggle room for a sack of pre-Christmas giveaways.

Mr Hunt could hand savers an extra £5,000 Isa allowance if they put money into a "Great British Isa" under plans to boost the economy.

The additional allowance would be available for those who want to invest in UK-listed companies.

As well as helping businesses, Mr Hunt is considering cutting inheritance tax in Wednesday's crunch announcement - the last major fiscal event before election year.

Boris Johnson backed such a cut to allow baby boomers to leave the next generation a bit more of their "colossal" wealth.

The former Prime Minister, writing in his newspaper column, notes younger generations have had it "so much harder" than those like himself.

"We had cushy pensions, we had free university education, we had cheaper mortgages, we were able to buy our homes," he wrote. "Things are so much harder for those who come after us."

Mr Hunt will pore over the final forecast from the Office of Budget for Responsibility today before making final decisions. He said:

"I think the priority should always be business tax cuts if you have headroom for cuts.