15th Feb 2024 10:22
(Alliance News) - The UK budget will be focused "prioritising economic growth", Jeremy Hunt has said after being questioned about rumours he could cut public sector spending to fund lower taxes.
The UK chancellor would not be drawn into confirming suggestions that further tax cuts would be announced at the spring budget on March 6, following newspaper reports that he is seeking to do so.
The move is likely aimed at garnering political favour with voters ahead of the general election expected later this year.
The Financial Times newspaper suggested the tax cuts could come at the expense of unprotected areas of spending across government departments.
Asked about the reports by Sky News, Hunt said he would not break with convention and speak about the budget in the weeks preceding it.
But the chancellor did hint at his preference for tax cuts, suggesting that countries with "lighter taxes" did "tend to grow faster".
He added: "But I would only cut taxes in a way that was responsible, and I certainly wouldn't do anything that fuelled inflation just when we are starting to have some success in bringing down inflation."
Asked if such cuts could come at the expense of cutting public services, the chancellor pointed to his record of championing extra investment in the NHS while he was health secretary.
He said: "I am a passionate supporter of the NHS and all our public services, but in the long run the best thing that I can do as chancellor for the NHS is to make sure that our economy is growing healthily.
"So what you will see in everything I do in the budget on March 6 is prioritising economic growth."
By David Lynch, PA Political Staff
Press Association: Finance
source: PA
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