Chancellor Jeremy Hunt has promised further tax cuts if the Conservatives win the next general election.
In a speech this morning (May 17), Hunt accepted taxes have gone up in this parliament and living standards have fallen but blamed this on the Coronavirus pandemic and a rise in energy prices.
In a political speech he hit out at Labour and accused the party of planning on increasing taxes, which the Labour party has since rejected.
"We are prepared to do the hard work to bring taxes down because we know that doing so will lead to more growth for the economy and more prosperity for British families," Hunt said.
Hunt went on to hint at tax cuts this autumn, however this would only happen if it can be done so without increasing borrowing.
The chancellor said: "If we can afford to go further, responsibly, to reduce the double tax on work this autumn, that is what I will do.
"Because over time we make no apology for wanting to keep cutting the double tax on work until it's gone, but only when we could do so without increasing borrowing and without cutting funding for public services or pensions."
Labour hit back at the speech, claiming electing the Conservative party would result in working people being £870 worse off.
tara.o'connor@ft.com
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