HUNT PLOTS BIG TAX CUTS IN BUDGET

'Low-tax economies are more dynamic and competitive'

- Michael Knowles

JEREMY Hunt has given his strongest signal yet that he will deliver big tax cuts for millions of Britons in weeks.

The Chancellor believes that, as inflation falls, his March Budget will allow room for reducing personal taxation, which in turn would help boost economic growth.

Mr Hunt said that lower taxes were the "direction of travel" as he prepares to deliver the spring Budget. He stressed: "I believe fundamentally that low-tax economies are more dynamic and more competitive and, in the end, generate more wealth for public services like the NHS.

"We look around the world and we notice that the economies that are growing faster than us - North America, Asian economies tend to have lower taxes.

"So that's the direction of travel we'd like to go in, but it's too early to know the extent to which we'll be able to do it." Mr Hunt admitted voters were "very angry" about the record high tax burden, and it is thought he will focus particularly on income tax in the Budget on March 6.

He also did not rule out the possibility of a second pre-election package of tax cuts in the autumn, but said that would depend on the date of the General Election chosen by Rishi Sunak.

Hunt paves the way for big cuts in Budget