British Chancellor Jeremy Hunt said on Thursday that he cannot commit to reducing prices because they are "decided in a market economy by lots of different actors." However, he said the government is preventing the cost of living from rising further by supporting the Bank of England's monetary policy.
Ahead of the July general election, Hunt vowed that a future Conservative government will not increase the value-added tax (VAT), income tax, or national insurance and will instead "do the hard work to bring down taxes."
