Salem Radio Network News Saturday, April 1, 2023


UK Treasury chief: Tax cuts must wait for inflation to fall


( ) -q-25- UNDATED (Correspondent Jeremy House) “since the 1980s.”

Britain’s Treasury chief says taming inflation is more important than cutting taxes.

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TAG: Correspondent Jeremy House reporting. At a speech Friday in London, Hunt said “the best tax cut right now is a cut in inflation.” Hunt said he wanted Britain to be a low-tax economy but “with volatile markets and high inflation, sound money must come first.”

VERBATIM: Jeremy Hunt is resisting calls from some in the governing Conservative Party for immediate tax breaks for businesses and voters. The U.K.’s annual inflation rate hit a four-decade high of 11.1% in October, fueling a cost-of-living crisis and a wave of strikes. It has since eased but still reached a painful 10.5% in December and is the highest since the 1980s.

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