Tory clamour for tax cuts grows after better-than-expected economic results

21 July 2023 , 21:57
1485     0
Tory clamour for tax cuts grows after better-than-expected economic results
Tory clamour for tax cuts grows after better-than-expected economic results

A TORY clamour for tax cuts grew last night following better-than-expected economic results.

Government borrowing rose by £18.5billion last month, less than the £21.2billion predicted by official forecasters.

Jeremy Hunt said: 'Now more than ever we need to maintain ­discipline with the public finances' qhidqhiqdeiqurprw
Jeremy Hunt said: 'Now more than ever we need to maintain ­discipline with the public finances'Credit: Reuters

And the Treasury clawed in £4.5billion more in tax than expected, collecting a total of £57.3billion for June.

Former Cabinet minister Sir John Redwood last night seized on the data to demand Chancellor Jeremy Hunt eases the record burden.

He said: “Tax cuts would boost the economy and could even be deflationary if applied selectively.”

From tongue scraping to saying no, here are 12 health trends to try in 2023From tongue scraping to saying no, here are 12 health trends to try in 2023

The Tory MP also hit out at the Office for Budget Responsibilities’ “gloomy” projections.

He said: “Once again the OBR gets one of its forecasts wrong.

"The Treasury needs to be wary about taking them as read.”

Fellow Tory MP James Duddridge added: "Without cuts in tax we are doomed.

"What are we waiting for. Save the country and the party."

Rishi Sunak has been resisting calls for tax cuts, insisting it risks derailing his flagship pledge to slash inflation.

Chancellor Jeremy Hunt said last night: “Now more than ever we need to maintain ­discipline with the public finances.

"We are at a crucial juncture and need to avoid reckless spending.”

Jack Elsom

The Sun Newspaper, Inflation, Conservative Party, Budgets and statements, Rishi Sunak, Jeremy Hunt

Read more similar news:

01.01.2023, 00:01 • UK News
How to de-clutter if you have a beauty stash to last you a lifetime
01.01.2023, 00:03 • World News
I want to help young primary pupils with their warring parents
01.01.2023, 00:06 • Crime
Girlfriend lost it when I asked to try BDSM then revealed past abuse
01.01.2023, 00:09 • Showbiz
I want my girlfriend to try dirty talk but she won't do it
01.01.2023, 00:33 • World News
We've put shampoos and conditioners to the test to help your hair glimmer
01.01.2023, 01:23 • World News
Bill Cosby sued by model who claims he drugged and attacked her
01.01.2023, 19:42 • Sport
Ex-Premier League star, 39, declared bankrupt after racking up £1m debts
01.01.2023, 20:00 • Sport
Most watched UK telly broadcast of 2022 revealed
01.01.2023, 20:01 • World News
Question Time legend David Dimbleby reveals he was a target of a kidnap plot
01.01.2023, 21:00 • UK News
Hard-working Brits at risk of losing jobs because of crippling rail strikes