[ad_1]
(Reuters) – British Chancellor of the Exchequer Jeremy Hunt aims to cut billions of pounds from public spending plans to fund pre-election tax cuts in the March budget if finances are tight, the Financial Times reported on Wednesday. reported.
The report, citing financial insiders, said Hunt would be willing to “further The government is reportedly considering ways to curb spending.
The paper said economists said ministers’ plans to increase public spending by 1 percentage point by 2029 were “fiction” and would mean significant real cuts to some strained public services. I’m warning you.
The FT, citing people close to Mr Hunt, said Treasury officials had gone further, slashing projected spending increases to around 0.75 percentage points a year and adding £5bn (6.2bn) to budget tax cuts. It is said that it is considering releasing 6 billion pounds from 80 million dollars).
“The Chancellor appears to have less room to cut taxes than he did last fall, and internal executives are starting to consider further spending cuts and productivity gains in the future if the numbers move against us again.” said. The paper quoted a Ministry of Finance official as saying.
“This is a difficult decision, but it is unclear whether there is an easier alternative,” the report said.
Mr Hunt said in January that he did not expect the government to have the same ability to cut taxes during the March budget as it did at the last budget update in November.
($1 = 0.7961 pounds)
(Reporting by Jubee Babu in Bengaluru; Editing by Leslie Adler and Matthew Lewis)
[ad_2]
Source link
