Families get biggest hint yet that they’re in line for tax cuts as Rishi Sunak says he wants to reward hard-work
SLASHING taxes will be prioritised by the Treasury above spending splurges, Rishi Sunak said today.
The PM hinted that major relief for hard-up families will be announced at the Spring Budget in March.
The effort to unleash growth will come as British retailers suffered the biggest drop in sales for almost three years in December.
Concerns have been raised that plummeting retail purchases could tip Britain into a recession.
Tory backbenchers have urged the PM to boost growth by building on the cuts to national insurance and business levies announced in November’s Autumn Statement.
Asked whether slashing taxes will come before spending promises, Mr Sunak told BBC Radio Solent: "It was important for me to be able to cut people's taxes and that is because the cost of living has been probably the dominant issue of my time as Prime Minister.
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"It was important to me because I believe that hard work should be rewarded.
"People work really hard and making sure they can keep more of that money to spend on the things they want, I think that is something people want - I wanted to deliver that and I'm pleased we were able to do that.
"And I would like to be able to do more when it is responsible to do so."
The PM added that he isn’t frustrated by a small uptick in inflation to 4 per cent in December, up from 3.9 per cent in November.
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He said: “Inflation doesn't come down in a straight line.
"And like the US, France and Germany as well, everyone has ticked up a little bit in December.
"We took difficult decisions which aren't easy. But we controlled borrowing and welfare and spending.
“Because of that, the plan has worked, and we are able to now cut people's taxes."