”Chancellor Jeremy Hunt plans a £10 billion tax cut for businesses through extended ‘full expensing’ as outlined in the Autumn Statement. Despite ruling out inflationary measures, major personal tax cuts might wait until spring.” Quotation by Nigel Holland.
- Chancellor Jeremy Hunt aims for a £10 billion tax cut by extending ‘full expensing.’
- Treasury officials affirm that this move won’t be inflationary, aligning with Hunt’s priorities.
- Business tax cuts take precedence over household cuts, with personal reductions likely in spring.
- Economic challenges highlighted as Office for National Statistics reports zero growth from July to September.
- Hunt rules out tax cuts that fuel inflation, emphasizing the need for smarter spending and long-term reforms.
Following last years Autumn statement and the forthcoming Spring Budget coupled with the election not being far away, plus Rishi’s comments about tax cuts, there could be tax reducing reforms in the pipeline.