Chancellor does not know if the government can afford to lower taxes ahead of Spring Budget

The Chancellor Jeremy Hunt has said ahead of the Spring Budget that he does not know “yet” if the government can afford to lower taxes.

The tax burden for millions of Brits is expected to rise to the highest level since the Second World War by the end of this decade.

Hunt has said he wants to lower the tax burden, but he is not sure if the government can.

Hunt said, “It was right to support families through Covid and through the cost-of-living crisis, and yes taxes had to go up in that period.

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“But we are a Conservative Government that wants to bring down taxes because we recognise that families are finding life really tough.

“Even after the effect of the tax rises that have happened previously, this means that a typical family will see their taxes go down next year.

“It’s the start of a process. As Chancellor, if I can afford to go further I will, I don’t yet know if I can.

“We want to do this because it helps families and it also helps to grow the economy. And we believe that a lightly taxed economy will grow faster and in the end that will mean more money for public services like the NHS.”