Houthi Attacks Limit Hunt's Budget Options for Tax Cuts Due to Higher Inflation

Chancellor Jeremy Hunt has less room for tax cuts in the Budget due to rising inflation caused partly by Houthi attacks on shipping.
The attacks have made container shipping more expensive by forcing ships to take longer routes.
This is fueling inflation which limits Hunt's options for tax cuts to boost growth.
Hunt is still expected to make some "surgical" tax interventions like cutting National Insurance.
Spirits makers are also lobbying Hunt to cut alcohol duties in the Budget to help the struggling hospitality sector.