British Finance Minister Hunt says that tax cuts should not be rushed – #British #Finance #Minister #Hunt #tax #cuts #rushed

LONDON, March 11 (Reuters) – Britain’s finance minister, Jeremy Hunt, said in the long-term, for individuals and especially businesses tax has said it wants to cut rates but warned it will take time because the economy needs to grow faster first.

Hunt, who is due to present his budget on Wednesday, said in an interview published on Saturday, below tax rates are possible only after the economy is on a sustainable growth path, he said.

“I want to cut personal taxes because that’s what being conservative is all about, but I want to cut business taxes even more,” he told GB News. “We’re not going to get there at a border.”

“What we’re trying to do is increase the productive capacity of the economy, and a highly taxed, highly regulated economy is less productive,” he said.

Hunt’s judge The legislators of the Conservative Party are on the verge of decline and coronavirus on the corporation tax rate to help the economy, the only one in the Group of Seven not to have recovered to its pre-pandemic size April they want to stop the sharp jump in the month.

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Hunt hinted that he would look at measures to encourage business investment, primarily through incentives.

“For the manufacturing industry … these capital allowances work, so I would say we want to reduce our effective corporation tax, the total amount that people pay,” he said. their tax account.

Reporting by Sarah Young Editing by William Schomberg

Our standards: Thomson Reuters Trust Principles.

2023-03-11 20:44:34
Source – reuters

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