UK Treasury Chief Announces Minimum Wage Hike But No Tax Cuts Amid High Inflation

UK Treasury chief announces minimum wage increase but rules out tax cuts as inflation stays high
Minimum hourly rate for workers 23+ to rise from £10.42 to at least £11 in April
Treasury chief pledges to freeze civil service recruitment and toughen rules on benefits to get more people working
Announcements aim to please voters but limited spending power constricts government's options
Rail strikes disrupt conference travel, seen as metaphor for Conservatives' wider struggles

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9/11/2023

UK Pre-Election Tax Cuts Unlikely as Inflation Concerns Limit Options for Fiscal Stimulus

Jeremy Hunt has warned that high inflation rates in Britain will prevent tax cuts this autumn, as the Bank of England signals another rate rise to ease cost of living pressures. Hunt cautions against overstimulating the economy and pushing up prices by pumping extra money into consumers' pockets.

9/22/2023

UK's High Debt Levels Make Tax Cuts 'Virtually Impossible', Says Jeremy Hunt

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.

10/2/2023

Hunt to Announce Tougher Benefit Sanctions and Higher Wages Ahead of Financial Statement

Chancellor Jeremy Hunt will emphasize the government's plan to make benefits sanctions stricter and raise the national living wage to over £11 per hour in a speech at the Tory conference, as pressure mounts for tax cuts and welfare changes to reduce spending and boost the economy.

10/2/2023

Hunt Raises Minimum Wage but Rejects Tax Cuts, Disappointing Some Tories While Trying to Woo Voters Before 2024 Election

Britain's Treasury chief announced an increase in the national minimum wage to appease struggling workers, but ruled out tax cuts due to concerns about inflation, drawing criticism from many Conservatives at the party's conference; other inexpensive policy announcements were made in an attempt to gain voter support, but the government's spending power is limited by the slow economy and high inflation.

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Posted 10/2/2023, 12:44:16 PM

UK Treasury Chief Announces Minimum Wage Hike But No Tax Cuts Amid High Inflation

UK Treasury chief announces minimum wage increase but rules out tax cuts as inflation stays high
Minimum hourly rate for workers 23+ to rise from £10.42 to at least £11 in April
Treasury chief pledges to freeze civil service recruitment and toughen rules on benefits to get more people working
Announcements aim to please voters but limited spending power constricts government's options
Rail strikes disrupt conference travel, seen as metaphor for Conservatives' wider struggles

go.com

Relevant topic timeline:

9/11/2023

UK Pre-Election Tax Cuts Unlikely as Inflation Concerns Limit Options for Fiscal Stimulus

9/22/2023

UK's High Debt Levels Make Tax Cuts 'Virtually Impossible', Says Jeremy Hunt

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.

10/2/2023

Hunt to Announce Tougher Benefit Sanctions and Higher Wages Ahead of Financial Statement

10/2/2023

Hunt Raises Minimum Wage but Rejects Tax Cuts, Disappointing Some Tories While Trying to Woo Voters Before 2024 Election