UK Inflation Falls but Remains High as Food and Energy Prices Bite
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UK inflation dropped in October but remains high at 4.6% vs 2% target, driven by food prices up 30% in a year
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Energy price cap cut utility bills in October but inflation could spike again due to geopolitics affecting oil and gas
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Markets now expect Bank of England to cut rates by June as growth slows, putting pressure on Tories to stimulate economy
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Potential tax cuts floated include making R&D tax relief permanent, raising corp tax threshold for SMEs, boosting pension investment
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Lifting income tax personal allowance from £12,570 to £20,000 would help lowest paid, incentivize work and boost growth