Chancellor Jeremy Hunt suggests that the Conservatives will slash taxes at the March 6 budget in an effort to avoid a general election obliteration. He compares his plan to that of Lord Lawson, who cut personal taxation in the Thatcher government.
The Conservatives will slash taxes at the March 6 budget, Chancellor Jeremy Hunt has suggested, as the party makes a last-ditch effort to stave off a general election obliteration when voters head to the polls later this year. Mr Hunt said today the Government's "plan is working" and "we need to stick to it". He said this would mean "cutting taxes", as he hinted at the contents of his set-piece fiscal event in the coming weeks.
Writing in the Mail On Sunday, the Chancellor likened his record to that of Conservative Party grandee Lord Lawson, who slashed personal taxation while serving in the Thatcher government.In his two budgets prior to the 1987 election, Lord Lawson famously cut both the standard and top rate of income tax to reignite what was believed to be a slowing economy.However, critics of Lawson's policy argue his economic mechanisms saw inflation quickly spin out of control, leading to a 20 per cent increase in house prices. Lord Lawson was later forced to double interest rates as inflation spiraled u
Conservatives Taxes Budget Chancellor Jeremy Hunt General Election Lord Lawson Personal Taxation Thatcher Government
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Increase in State Pension Payments for Older People ConfirmedChancellor Jeremy Hunt has confirmed that State Pension payments for older people will increase by 8.5% from April 8, 2024. This will result in higher weekly payments for pensioners, although the full amount will not be reflected in their payments until four weeks after the increase date.
Read more »
Best MacBook Options for StudentsFind the best MacBook options for students, suitable for every budget and different types of studying.
Read more »
Increase in State Pension Payments for Older People ConfirmedChancellor Jeremy Hunt has confirmed that State Pension payments for older people will increase by 8.5% from April 8, 2024. This will result in higher weekly payments for pensioners, although the full amount will not be reflected in their payments until four weeks after the increase date.
Read more »