George Osborne urges Jeremy Hunt to cut business taxes
1 year, 10 months ago

George Osborne urges Jeremy Hunt to cut business taxes

The Telegraph  

Jeremy Hunt should cut business taxes at next month’s budget to boost the economy, George Osborne has suggested. The former chancellor warned that the historically high burden on industry risked putting companies off investing in Britain. He referenced pharmaceutical firm AstraZeneca, which has decided to build its new vaccine factory in Ireland because of the UK’s high levies. “Of course it’s more popular to increase taxes on business than on individuals and in some ways easier to do than to try and cut public spending,” Mr Osborne told the BBC.

Osborne Mr Hunt  reverse  urges  chancellor  increase  high  george  taxes  business  mr  hunt  plans  jeremy  cut  osborne

History of this topic

Jeremy Hunt throws down the gauntlet on tax with five major tax cuts promises in first Tory budget - as Chancellor challenges Labour to rule out rises
5 months, 4 weeks ago

Jeremy Hunt throws down the gauntlet on tax with five major tax cuts promises in first Tory budget - as Chancellor challenges Labour to rule out rises

Daily Mail  

Jeremy Hunt has confirmed five major tax cuts will be included in a Conservative post-election budget, and has challenged his Labour counterpart to rule out any rises in her first budget. The Chancellor said National Insurance would be slashed for the employed and the self-employed, income tax would be cut for pensioners and the increased stamp duty threshold would be …

How taxes have soared to a near-record high under Tory rule
9 months, 2 weeks ago

How taxes have soared to a near-record high under Tory rule

The Telegraph  

It means Mr Hunt has by a hair’s breath avoided further headlines about the tax burden being on course to hit a peacetime high, although it will only sit a nudge below the record high of 37.2pc in 1948. Lord Cameron said “one of the proudest things” he had done in government was cutting income taxes for 26 million people …

U.K. Finance Minister dampens down hopes of tax cuts as election looms
9 months, 3 weeks ago

U.K. Finance Minister dampens down hopes of tax cuts as election looms

The Hindu  

British Finance Minister Jeremy Hunt on March 3 talked down the likelihood of tax cuts in this week’s budget, pledging “prudent and responsible” measures “for long term growth”. The Chancellor of the Exchequer had been widely expected to cut taxes in Wednesday’s budget, in a move seen as a way of closing the gap on the main Opposition Labour Party …

Hunt handed £9.2bn boost for Budget tax cuts
10 months ago

Hunt handed £9.2bn boost for Budget tax cuts

The Telegraph  

The TaxPayers’ Alliance urged the Chancellor to “give taxpayers the break they deserve and cut income tax at the upcoming Budget”. However, receipts were £4.6bn lower than the OBR’s forecast of £116bn as income from higher earners, the self-employed and capital gains taxes eased. Self-assessment tax receipts stood at £21.6bn last month, which is £2.4bn less than the £24bn forecast …

Jeremy Hunt shelves 2p income tax cut
10 months, 1 week ago

Jeremy Hunt shelves 2p income tax cut

The Telegraph  

Jeremy Hunt has shelved plans for a 2p cut to income tax at next month’s Budget as it was revealed the economy has entered a recession. He had also considered reducing National Insurance employee contributions by two percentage points as an alternative. However, the Office for National Statistics announced on Thursday that the economy had contracted 0.3 per cent in …

Jeremy Hunt denies lying about ‘record tax cuts’ claim
1 year, 1 month ago

Jeremy Hunt denies lying about ‘record tax cuts’ claim

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Rishi Sunak and Jeremy Hunt were under pressure to deliver …

UK Treasury chief signals tax cuts and a squeeze on welfare benefits are on the way
1 year, 1 month ago

UK Treasury chief signals tax cuts and a squeeze on welfare benefits are on the way

Associated Press  

LONDON — U.K. Treasury chief Jeremy Hunt says the government can afford to lower some taxes now that inflation is falling, but that any cuts will come along with a squeeze on welfare benefits. Hunt told Saturday’s Daily Telegraph newspaper that the British economy had “turned the corner.” He said that “there is a path to reducing the tax burden, …

Economic boost for Sunak - but fresh tax cuts calls erupt
1 year, 2 months ago

Economic boost for Sunak - but fresh tax cuts calls erupt

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Treasury minister Andrew Griffith said they were "not for the moment" when asked about the …

Jeremy Hunt handed £11.4bn borrowing boost despite August setback
1 year, 3 months ago

Jeremy Hunt handed £11.4bn borrowing boost despite August setback

The Telegraph  

However, early data suggests the economy is weakening, which will hit tax receipts, Mr Webb warned. This would be the lowest level since 2019-20, although it would still amount to 4.6pc of GDP, compared to the Government’s medium-term target of 3pc according to the current fiscal rules.” Samuel Tombs, chief UK economist at Pantheon Macroeconomics, said that although GDP data …

Hunt rules out tax cuts amid efforts to cut inflation
1 year, 7 months ago

Hunt rules out tax cuts amid efforts to cut inflation

The Independent  

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Sign up to our Brexit email for the latest insight SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy …

Jeremy Hunt refuses to commit to tax cuts before 2024 election
1 year, 9 months ago

Jeremy Hunt refuses to commit to tax cuts before 2024 election

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Several senior Tories spokes out against changes announced at Wednesday’s Budget – with Jacob Rees-Mogg …

Corporation tax hiked – despite Tory rebel warning on ‘hammer’ blow
1 year, 9 months ago

Corporation tax hiked – despite Tory rebel warning on ‘hammer’ blow

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. The former Treasury secretary, a key Liz Truss backer, added: “It is very hard to …

How Jeremy Hunt was captured by Treasury orthodoxy
1 year, 10 months ago

How Jeremy Hunt was captured by Treasury orthodoxy

The Telegraph  

It is not just big business that is raging at the Chancellor for refusing to back down on his looming increase in corporation tax from 19pc to 25pc. Founded in 1845 and still in family hands to this day, the business is now run by Mark Cropper – and he is furious at Jeremy Hunt’s stubbornness and the impact it …

Hunt told he must cut taxes as recession avoided by thinnest of margins
1 year, 10 months ago

Hunt told he must cut taxes as recession avoided by thinnest of margins

The Telegraph  

Business leaders are calling on Chancellor Jeremy Hunt to cut taxes to boost growth, after the UK economy shrank by more than expected in December. Official figures show the UK narrowly avoided falling into recession at the end of last year, however the economy shrank by more than expected. “All eyes are on the Chancellor’s March budget, when businesses will …

Jeremy Hunt: The best tax cut we can give is halving inflation
1 year, 10 months ago

Jeremy Hunt: The best tax cut we can give is halving inflation

The Telegraph  

A huge portrait of William Gladstone, the great Liberal prime minister and four-time chancellor, looms over Jeremy Hunt’s study in Number 11 Downing Street, a gift from past Treasury mandarins. But the best tax cut we could give the British people would be to halve inflation,” he told The Telegraph’s Chopper’s Politics podcast. Inflation is an invidious tax rise, which …

Youngkin proposes another $1B in business, income tax cuts
2 years ago

Youngkin proposes another $1B in business, income tax cuts

Associated Press  

RICHMOND, Va. — Virginia is in a financial position to both cut taxes by another $1 billion and increase government spending, Gov. In addition to a corporate tax rate cut from 6% to 5% Youngkin also wants to create a statewide 10% business income tax deduction for small businesses and “pass-through entities.” Some Democrats raised concerns during Thursday’s meeting about …

Jeremy Hunt set to launch capital gains tax raid
2 years, 1 month ago

Jeremy Hunt set to launch capital gains tax raid

The Telegraph  

On Thursday Mr Hunt acknowledged the hardships being faced: "Today's news is going to be very tough for families with mortgages up and down the country, for businesses with loans. Mr Hunt is looking at raising the dividend tax rate and a cut to the tax-free dividend allowance in a £1bn-a-year tax raid on pensioners, business owners and the self-employed. …

U.K. Chancellor of Exchequer Jeremy Hunt scraps nearly all government tax cut plans
2 years, 2 months ago

U.K. Chancellor of Exchequer Jeremy Hunt scraps nearly all government tax cut plans

The Hindu  

U.K. Chancellor of Exchequer Jeremy Hunt on October 17, 2022, reversed most of an economic package announced by the government just weeks ago, including a planned cut to income tax. In a bid to soothe turbulent financial markets, Mr. Hunt said he was scrapping “almost all” the tax cuts announced last month and signaled public spending cuts are on the …

Everything that Jeremy Hunt has thrown out of the mini-Budget
2 years, 2 months ago

Everything that Jeremy Hunt has thrown out of the mini-Budget

The Telegraph  

For the typical worker, it represents a blow of £130 per year. “The basic rate of income tax will remain at 20pc and it will do so indefinitely, until economic circumstances allow for it to be cut,” Mr Hunt said. That has been stripped from the Scotch whisky industry following the Chancellor’s decision to u-turn on the duty freeze announced …

Jeremy Hunt says rate of income tax to stay at 20p indefinitely as he rips up mini-Budget
2 years, 2 months ago

Jeremy Hunt says rate of income tax to stay at 20p indefinitely as he rips up mini-Budget

The Telegraph  

The basic rate of income tax will remain at 20p indefinitely, Jeremy Hunt announced on Monday as he tore up the mini-Budget delivered by Kwasi Kwarteng less than a month ago. The new Chancellor warned MPs there would be decisions of “eye-watering difficulty” ahead, whether that be increased taxes or reduced spending, but said all would be made within the …

Jeremy Hunt says taxes will rise and ‘difficult’ cuts are needed after mini-Budget ‘mistakes’
2 years, 2 months ago

Jeremy Hunt says taxes will rise and ‘difficult’ cuts are needed after mini-Budget ‘mistakes’

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Liz Truss’s new chancellor Jeremy Hunt has said taxes will rise …

Reeves: I’ll reverse abolition of 45% income tax rate to fund NHS staffing surge
2 years, 2 months ago

Reeves: I’ll reverse abolition of 45% income tax rate to fund NHS staffing surge

The Independent  

For 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. Ms Reeves said a Labour administration would also implement …

Labour will revive plans to raise corporation tax, says Rachel Reeves
2 years, 2 months ago

Labour will revive plans to raise corporation tax, says Rachel Reeves

The Telegraph  

Labour would revive Boris Johnson’s plans to raise corporation tax to 25 per cent, Rachel Reeves said on Monday. The shadow chancellor attacked Liz Truss’s decision to scrap the rise as “wrong” and said it would not boost investment as promised. “When I talk to businesses, they don’t tell me that their priority is corporation tax,” she told delegates. “They …

Labour to oppose any Budget hike in corporation tax in extraordinary political reversal
3 years, 10 months ago

Labour to oppose any Budget hike in corporation tax in extraordinary political reversal

The Independent  

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Sign up to our Brexit email for the latest insight SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy …

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