
18th November 2023
Jeremy Hunt has been warned against using next week's autumn statement to announce pre-election tax cuts for the wealthy while overseeing a multibillion-pound stealth raid on the incomes of 36 million workers.
With the Conservatives trailing in opinion polls, the chancellor is considering deep cuts to inheritance tax for his set-piece speech to the Commons on Wednesday after receiving upbeat figures for the public finances from official forecasters.
Cutting inheritance tax - which is paid by fewer than 4% of all estates, affecting largely the richest in society - would, however, come with the government on track to raise a "gargantuan" £40bn from freezing income tax thresholds, according to analysis by the Resolution Foundation thinktank.
Read the full article in the Guardian