Hunt tax giveaway to revive poll hopes

JEREMY Hunt is considering a massive tax giveaway in 10 weeks' time to rescue Tory election hopes.

- Martyn Brown

The Chancellor announced he will deliver the spring Budget on March 6 in what could be his last chance to introduce major changes before the country goes to the polls in 2024.

Mr Hunt is said to be looking at scrapping inheritance tax and reducing the basic rate of income tax alongside a change to thresholds under plans for a "gear change" ordered by the Prime Minister.

And Housing Secretary Michael Gove has suggested that the Conservatives cut the upfront cost of a home for first-time buyers.

Measures said to be on the cards include Government support for longer fixed-term mortgages to reduce the size of deposits and a resurrected help-to-buy scheme. The earlier Budget date has left the door ajar for a possible early general election in May although most Westminster watchers expect it to be in the autumn.

The Chancellor has commissioned the Office for Budget Responsibility to prepare an economic and fiscal forecast to be presented to Parliament alongside the budget next year, the Treasury said.