Jeremy Hunt: No Clear‑Cut Plan for Cutting Taxes Yet
Picture this: most families are already feeling the squeeze, and Jeremy Hunt, the UK’s current chancellor, is juggling the wish to lower taxes against hard fiscal realities. He said he’s still playing the “yet” card.
Why the Tax Burden Is Set to Rise
- Millions of Britons could see their tax load hit the highest level since WWII by the 2030s.
- The government has repeatedly had to hike rates during the Covid and cost‑of‑living crunches.
- Hunt acknowledges that families have been “really tough” and wants a change.
Hunt’s Double‑Edged Dilemma
He told the crowd, “Supporting families during the pandemic and then during the cost‑of‑living crisis was right. Taxes had to go up then, but family budgets are under siege again.”
While he pledges to “bring down” taxes, he admits that the budget might not allow for the full dip he hopes. “It’s the start of a process,” he said. “As Chancellor, I’ll go further if I can afford it.”
What This Means for You
Even if rates rise again today, the plan is for a typical family to see a future reduction in taxes next year. The hope is a lighter tax environment triggers economic growth, which, in turn, feeds more public service money back into the NHS and beyond.
So, don’t laugh at the idea of a lower tax load… just make sure you’re ready for the possibility that the next decade might bring higher rates!
