Hunt Warned Against Cutting Tax For Wealthy While Making Stealth Raid On 36m Workers
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