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Jeremy Hunt to promise further tax cuts as pre-general election battle hots up

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Published Time: 17.05.2024 - 00:40:29 Modified Time: 17.05.2024 - 00:40:29

The chancellor will give a speech in London on Friday in which he will accuse his shadow, Rachel Reeves, of resorting to "playground politics" with her criticism of the high levels of taxation on UK households

The chancellor will give a speech in London on Friday in which he will accuse his shadow, Rachel Reeves, of resorting to "playground politics" with her criticism of the high levels of taxation on UK households.

Thursday 16 May 2024 21:34, UK

Jeremy Hunt will promise further tax cuts if the Tories win the next general election and will accuse the Labour Party of not being honest about how it will fund its spending pledges.

The chancellor will give a speech in London on Friday in which he will accuse his shadow, Rachel Reeves, of resorting to "playground politics" with her criticism of the high levels of taxation on UK households.

Mr Hunt will also reiterate his ambition to eradicate the national insurance taxwhich the Tories have already slashed twice in a bid to move the pollswhere they currently lag 20 points behind Labour.

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Labour has attacked the policy as an unfunded £46bn pledge and likened it to the policies that saw Liz Truss resign from office after just 44 days as prime minister.

The chancellor was previously forced to make clear that his desire to abolish the "unfair" national insurance tax would not happen "any time soon".

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The chancellor described national insurance as a "tax on work" and said he believed it was "unfair that we tax work twice" when other forms of income are only taxed once.

The overall tax burden is expected to increase over the next five years to around 37% of gross domestic productclose to a post-Second World War highbut Mr Hunt will argue the furlough scheme brought in during the pandemic and the help the government gave households for heating both needed to be paid for.

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"Labour like to criticise tax rises this parliament thinking people don't know why they have gone upthe furlough scheme, the energy price guarantee and billions of pounds of cost-of-living support, policies Labour themselves supported," he will say.

"Which is why it is playground politics to use those tax rises to distract debate from the biggest divide in British politicswhich is what happens next.

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