RISHI Sunak won’t be cutting taxes in his mini-budget this month – despite calls from Gordon Brown to scrap National Insurance increases.
And he warned the Tories would “pay a price” for it. Hit the hard pressed in the pocket.
Mr Brown – Labor Chancellor from 1997 to 2007 – said: “You can’t raise fuel prices, you can’t allow food prices to go up, you can’t raise taxes and cut welfare benefits – you can’t do all those things at the same time .”
Despite the warning, Leveling Up Secretary Michael Gove insisted the Treasury will continue plowing.
Asked if taxes will be cut in next week’s spring declaration, Mr Gove replied: “No.”
He told the BBC: “Behind your question there may be a suggestion that we should scrap the increase in social security.
“We do not do that. We need this increase in social security contributions to ensure we can fund the NHS and social care to tackle the Covid backlog.”
Mr. Sunak is under tremendous pressure to spend more money to help families.
Petrol has risen to a record £1.60 a liter as the invasion of Ukraine and sanctions on Russia send prices soaring.
MPs have asked him to follow Ireland’s lead and cut fuel taxes.
But Mr Gove said if extra money is found it will be used for “targeted” support rather than a tax cut for everyone.
Boris Johnson is expected to visit Saudi Arabia this week to urge the kingdom to pump more oil.
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https://www.thesun.co.uk/news/17937875/rishi-sunak-will-not-cut-taxes-mini-budget/ Rishi Sunak will NOT cut £12billion mini-budget tax bomb as families struggle and face cost of living crisis