PM says he will stick to his plan on reducing inflation amid calls for tax cuts
The IndependentFor free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “So, will the Prime Minister agree in principle with me that the concept of higher rate tax was never meant to drag in police sergeants, band eight nurses, teachers with additional responsibilities and others, and that a priority for his Treasury ministers should be to return fairness to the tax thresholds?” Mr Sunak said: “I agree with and I am pleased that the vast majority of people will continue not to pay the higher rate. “Right now inflation is falling and we’re sticking to our plan … delivering a halving of it this year, because that is the most effective tax cut we could have delivered for the British people this year, rather than making it worse, as the party opposite would.” He added: “I absolutely share his ambition to cut taxes for working people, and, as we stabilise the economy, that’s something that both the Chancellor and I are keen to deliver.” We must stay the course to continue to get inflation all the way back down to 2% Prime Minister Rishi Sunak Earlier, Mr Sunak said: “Inflation works like a tax. “Getting it down has involved hard decisions and fiscal discipline.” He added: “While it is welcome news that prices are no longer rising as quickly, we know many people are continuing to struggle, which is why we must stay the course to continue to get inflation all the way back down to 2%.” Mr Hunt said the fall in the inflation rate was “thanks to deliberate action we’ve taken – being disciplined on spending, helping people into work and resisting calls for additional borrowing”. Former home secretary Dame Priti Patel said: “Now is the time to be Conservative and give the British people what they deserve: a tax break!” Labour said Mr Sunak meeting his pledge of getting inflation below around 5.3% is an example of the Prime Minister marking his own homework and the real test is the 2% target set for the Bank of England.
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