Chancellor Jeremy Hunt Hints at Significant Tax Cuts in March Budget

Potential cuts aimed at stimulating economic growth and competitiveness amid pressure for pre-election giveaway.

Chancellor Jeremy Hunt has hinted at significant tax cuts in the upcoming March budget, with a focus on income tax, in an effort to stimulate economic growth and competitiveness.
Hunt's comments come amid pressure from Conservative MPs for a substantial pre-election giveaway, as Labour continues to lead in opinion polls.
Lower inflation and the prospect of interest rate cuts from the Bank of England could provide Hunt with the fiscal room to implement these tax cuts.
Despite the potential for tax cuts, the UK's public debt remains close to 100% of national income, raising concerns about the long-term fiscal sustainability of such measures.
Hunt has also suggested further cuts to departmental spending plans to fund these tax cuts, which could potentially impact public services.