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UK government can now focus on cutting taxes for individuals – junior finance minister



Britain’s Chief Secretary to the Treasury Laura Trott walks at Downing Street in London, Britain, November 14, 2023. REUTERS/Hannah McKay/File Photo Acquire Licensing Rights

LONDON, Nov 21 (Reuters) – The British economy is now in a position where the government can focus on cutting tax for individuals, junior finance minister Laura Trott said on Tuesday ahead of a budget update this week.

Prime Minister Rishi Sunak said on Monday his government would turn to cutting tax after a fall in inflation, but declined to speculate on specific changes and finance minister Jeremy Hunt has said the focus will be on boosting growth.

Asked by BBC Radio whether the Autumn Statement would go beyond business tax cuts, Trott said: “The economy is in a very different place to where we were a year ago and we can now focus on going for growth, pushing up the growth rate of the economy and cutting taxes for individuals.”

British media have reported tax cuts for individuals could include reductions in income tax or national insurance.

Reporting by Kylie MacLellan

Our Standards: The Thomson Reuters Trust Principles.

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