Jeremy Hunt comments on Liz Truss’ mini budget and mistakes made
Chancellor Jeremy Hunt is facing calls from Conservative MPs to consider making tax cuts as soon as possible to help Britons manage spiralling bills amid the cost of living crisis. A new Express.co.uk poll has found that 82 percent of readers think he should cut taxes ahead of the next general election.
Official figures from the Office for National Statistics show that the Treasury collected £786.6billion in tax in the last financial year, an increase of 9.9 percent on the previous year.
Additionally, Government borrowing came in at £139.2billion, some £13.2billion lower than the £152.4billion predicted by the Office for Budget Responsibility (OBR) and the saving could be used to help ease the tax burden.
Former Cabinet Minister John Redwood argued: “Cut taxes now. We cannot afford high tax rates which cut growth and depress revenue. The UK needs to go for growth, which is the best way to raise more money for public services. Ireland, with half our business tax rate, collects far more business tax proportionately. The Celtic Tiger is roaring again and so should our economy.”
Meanwhile, former Business Secretary Jacob Rees-Mogg criticised the OBR’s predictions last month: “The failure of the OBR’s forecasts just a few weeks after they were made is damaging the economy. Taxes are higher than they need to be, stifling growth because of incompetent forecasters”.
In a poll that ran from 9am on Wednesday, April 26, to 2pm on Friday, April 28, Express.co.uk asked readers: “Should Jeremy Hunt cut taxes ahead of the next general election?”
A total of 1,305 votes were cast with the vast majority of readers, 82 percent (1,070 people) answering, “yes”, he should cut taxes. In contrast, percent (218 people) said, “no”, he should not and just one percent (17 people) said they did not know.
Dozens of comments were left below the accompanying article as readers discussed what Mr Hunt should do.
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Username castmaster was behind the idea of taxes being cut. They commented: “Cut all the indirect taxes, council tax, vat, also get fuel and energy prices down, and inflation will come down, then people will have more money in their pockets.”
Username tofueatingwokeratiruleok said: “Should cut them now.”
While username petedcab said: “What he needs to do is completely rewrite our tax system and not just tinker around the edges.”
However, other readers argued that Mr Hunt should not cut taxes. Username tt84 wrote: “Everyone wants lower taxes, understandably. But the taxes need to be wherever they need to be.”
Similarly, username vortex said: “We can’t have any new tax cuts. We can’t keep borrowing to pay for it. Simple as that….It’s a budget and economic disaster in the making.”
And username dippy52 remarked: “If the Tories cut taxes before the election it will be only to gain votes then if they get in again they will go back up within at the longest six months. So it’s a pointless exercise really.”
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