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Hunt aims to cut taxes by boosting efficiency, but rules out short-term tax cuts despite record highs

  • Chancellor Jeremy Hunt says he wants to break "vicious circle of ever-rising taxes" by reforming public services and benefits system

  • Some senior Tories to call for tax cuts at party conference, including Liz Truss and Priti Patel

  • But Hunt says "we're not in a position to talk about tax cuts" in short term

  • Hunt points to AI and reducing bureaucracy as ways to increase efficiency in services

  • Report by Institute for Fiscal Studies says taxes now at highest level since records began 70 years ago, up 37% under this Parliament

bbc.com
Relevant topic timeline:
The Chancellor of the Exchequer, Jeremy Hunt, highlights the conservative government's achievements in terms of supporting businesses, job creation, economic growth, and reducing debt, while criticizing the Labour Party's approach of increased spending without clear plans for funding, and emphasizes the importance of fiscal responsibility and supply-side reforms.
Chancellor Jeremy Hunt is confident that his plan to reduce inflation in the UK is working and will alleviate financial strain on households, despite criticism from experts and opposition politicians. He believes that sticking to the plan and reducing inflation will ease the pressure on families and businesses and lead to economic growth. However, some Conservative colleagues may disagree with his focus on public sector productivity rather than tax cuts. Labour's shadow chancellor, Rachel Reeves, criticized Hunt for being out of touch with the economic realities faced by families and called for investment in the economy to benefit working people.
Chancellor Jeremy Hunt says tax cuts will be "virtually impossible" until the UK economy improves due to high levels of national debt and the need to reduce inflation.