British Chancellor Jeremy Hunt said on Monday that it is "very difficult to see" a headline tax cut before the end of the year after Housing Secretary Michal Gove said he wants a tax cut before the next general election. He declined to say whether the cuts will be implemented before the election, which will be called before the end of January 2025.
Hunt told Sky News that "if we gave people big tax cuts now, that would put more money into people's pockets and that would be inflationary." He said the government is still in a "big battle" with inflation and that lowering prices is the best way to help households. He said the government wants to cut taxes "as soon as we can, but it means difficult decisions, and we are prepared to take those difficult decisions."
