The chancellor’s hopes of a 2 pence cut in the rate of national insurance or income tax were “out of the window based on current forecasts” according to one Conservative official.
This was after Hunt indicated further tax cuts could be on the horizon at the World Economic Forum in Davos last month (January 18).
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Speaking to a group of journalists in Davos - including the FT - Hunt described lower tax economies like North America and Asia as “more dynamic and more competitive” saying this was the direction he wanted to move in.
alina.khan@ft.com
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