The Chancellor Jeremy Hunt has set the date for the Spring Budget and has commissioned the Office for Budget Responsibility (OBR) to prepare for and economic and fiscal forecast that will be presented before Parliament on 6 March.
The Prime Minister has ordered a “gear change” and according to the Telegraph Rishi Sunak could axe inheritance tax and reduce income tax.
In a move that would benefit the wealthy, Sunak could cut inheritance tax that will most likely not be supported by Labour.
Some Tory MPs have expressed their concerns over the inheritance tax move as many people do suffer the burden of higher costs after the period of higher inflation.
The Times has said that the government are considering support for longer term mortgages and for first time buyers the size of the deposit could be reduced.
Housing Secretary Michael Gove was asked by the Times if the government will promise more help for first time buyers next year, he said, “Oh, yes, we must. Definitely.”
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