The Government is thought to be planning one more ‘fiscal event’ before the election.
Another autumn statement could contain further tax cuts in an effort to boost the Conservatives’ electoral appeal.
Jeremy Hunt has previously hinted there could be a further “fiscal event” before voters go to the polls in an effort to underline the Conservatives’ tax-cutting credentials. However, with nearly six months until the likely date of any autumn statement, discussion of possible measures will be in their early stages and the Chancellor is likely to face pressure from backbench Conservatives for a range of other tax cuts.
Mr Hunt and Prime Minister Rishi Sunak have said their “long-term ambition” is to scrap national insurance entirely, but have not set a date for this.Labour has criticised the commitment as an unfunded tax cut of £46 billion, drawing comparisons with the tax cuts proposed by Liz Truss and Kwasi Kwarteng in their mini-budget.
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