Home Business News Sunak pledges to ‘prioritise tax cuts’ to ensure ‘hard work is rewarded’

Sunak pledges to ‘prioritise tax cuts’ to ensure ‘hard work is rewarded’

by Amy Johnson LLB Finance Reporter
22nd Jan 24 9:28 am

The Prime Minister Rishi Sunak has said that the government’s plan is working which means and has pledged to “prioritise tax cuts” and Brits “hard work” will be “rewarded.”

The Chancellor has likened himself to Nigel Lawson saying the government’s plan “is working” and they will cut taxes.
Serving under Margret Thatcher Lawson cut personal taxation and Jeremy Hunt is comparing himself to the former Chancellor who served in the 1980s.

Writing in the Mail on Sunday the Chancellor said, “Just as Nigel Lawson positioned the City of London for the finance boom in the 1980s, this period of Conservative government has seen the UK positioned for the massive technological boom we’re set to see in the coming years.”

Sunak wrote in The Sun on Sunday “because of the disciplined way we have run the economy,” therefore the government can introduce more national insurance reductions.

The Prime Minister wrote, “Where we can, we will always prioritise tax cuts to put more of people’s money back in their pockets.”

However, Labour has called the move a “raw deal” as the Chancellor is keeping the tax threshold frozen, this therefore means that there will in fact be a tax rise for many Brit because their salaries will increase with inflation.

Shadow chief secretary to the Treasury Darren Jones said: “Jeremy Hunt’s words will read hollow to the millions of people who have been left worse off after 14 years of economic failure.

“Prices are still rising in the shops, monthly mortgage bills are soaring and the average family will be £1,200 worse off under the Tories’ tax plan.

“Britain needs change and a Labour government, not five more years of Conservative failure.”

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