Sunak government to consider tax cuts if inflation halved by end of 2023
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Rishi Sunak's government will consider tax cuts if inflation is halved by end of 2023, says cabinet minister Robert Jenrick.
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Jenrick said government has "right priorities" after Tory by-election defeats, but some MPs want tax cuts now to shore up support.
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Jenrick Reducing inflation is top priority, but if achieved, tax cuts will be considered. Inflation currently at 6.7%.
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Bank of England predicts inflation will fall to 5% by end of 2023. Government aims to halve it to 5.3% to meet Sunak's pledge.
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Tory MPs want immediate tax cuts to ease cost of living before 2024 election, but Chancellor Jeremy Hunt says tax cuts "virtually impossible" now.