( ) -q-25- UNDATED (Correspondent Jeremy House) “since the 1980s.” Britain’s Treasury chief says taming inflation is more important than cutting taxes. [CutID: <Cuts> UK-ECONOMY-house-q-FRIam.mp3 Time: 25s Title: UK-ECONOMY-house-q-FRIam Out-cue: since the 1980s] TAG: Correspondent Jeremy House reporting. At a speech Friday in London, Hunt said “the best tax cut right now is a cut […]
Audio
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.
[CutID: <Cuts> UK-ECONOMY-house-q-FRIam.mp3
Time: 25s
Title: UK-ECONOMY-house-q-FRIam
Out-cue: since the 1980s]
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.”
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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.