The chancellor is keen to show he’s a tax cutter, but with war and the aftermath of Covid, who will believe his 1p reduction is in any way affordable?
The Chancellor Rishi Sunak preparing for his spring statement in 11 Downing Streetishi Sunak has put in place one of the essential building blocks of a Tory victory at the next general election – a cut in income tax. During his Commons speech last week, the chancellor was cheered by backbench Conservatives, who believe the promise of a 1p cut in the basic rate to 19p before the likely date in 2024 would improve their chances of re-election.
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