Team Blitz India
Prime Minister Rishi Sunak has indicated that he will reduce taxes this year despite the country having entered a recession.
Economic conditions have improved, said the PM, adding “our plan is working” and he can “give everyone the peace of mind that there is a better future for them and their families”.
He told the media that tax cuts were possible “because of our plan to halve inflation, which has been successful over the past year, and because economic conditions have improved. We have already been able to start cutting taxes for people,” reported The Guardian newspaper.
However, according to a section in the media, the statement is in a bid to win over voters in a crucial election year after the Tories lost by-elections in Wellingborough and Kingswood to Labour.
“We delivered a significant tax cut at the start of this year, cutting the rate of national insurance from 12% to 10%, now that means someone on an average earning of about £35,000 is seeing a tax cut worth £450 that hit their payslips in January,” the PM told reporters.
“Now that will benefit everyone in work, it demonstrates that our plan is working. And if we stick with that plan, I can give everyone the peace of mind that there is a better future for them and their families ahead, and we can all have a renewed sense of pride in the country,” he added.
Agreeing “we’re not out of the woods yet”, he however, stressed that across all the priorities “that I set out we’re making progress”.
Reports suggested that PM Sunak has also been warned by leading One Nation group Conservatives that it would be “politically disastrous” to veer further to the right after two the byelection losses to Labour.
