UK Finance Minister Jeremy Hunt unveils plans for economic boost and tax cuts in March Budget

British Finance Minister Jeremy Hunt has revealed his intentions to use the March budget statement, potentially his last before an anticipated national election this year, to stimulate economic growth. Hunt emphasized that tax cuts are a crucial component of his strategy to further propel the economy.

In a statement to The Mail on Sunday newspaper, Hunt expressed, “My priority in the upcoming Spring Budget will be to build on our progress and go even further to drive economic growth. Because if we can sustainably grow the economy, we can relieve the pressure on families and generate the revenue necessary to invest in the public services we all rely on.”

Scheduled for March 6, Hunt’s budget speech is anticipated to include tax cuts aimed at bolstering the electoral prospects of Prime Minister Rishi Sunak’s Conservative Party in the looming 2024 elections. The Conservatives currently trail the opposition Labour Party by approximately 20 percentage points in opinion polls, with economic challenges and years of wage decline contributing to the party’s struggles.