LONDON (AP) — U.K. Treasury chief Jeremy Hunt says the government can afford to lower some taxes now that inflation is falling, but that any cuts will come along with a squeeze on welfare benefits.
British media have reported that there will be relief for businesses and wealthy property-owners in Hunt’s autumn budget statement on Wednesday.
But he cautioned to broadcasters on Saturday that “there’s no easy way to reduce the tax burden.
The most likely tax cuts are a reduction in corporation tax and slashing inheritance tax, a move that would help the wealthy.
Only about 4% of estates have to pay inheritance tax.
Persons:
Jeremy Hunt, Hunt, “, ” Hunt, Rishi Sunak’s, Liz Truss, Ken Clarke, “ I’m, ”
Organizations:
Treasury, Saturday's Daily Telegraph, Conservative, Rishi Sunak’s Conservative, Bank of England’s, Labour Party, Conservative Treasury
Locations:
Ukraine