|Prime Minister Rishi Sunak has said the UK government is now able to cut taxes, after the pace of price rises eased.|
Mr Sunak said his target of halving inflation had been met so taxes would be reduced in “a responsible way”.
He refused to comment on “speculation” about changes to individual taxes and said there would be more details in Wednesday’s Autumn Statement.
But the PM said the government could now move to “the next phase” of its plan to grow the economy.
Last week the government said it had met its pledge to halve inflation – the rate prices are rising – after the figure fell sharply to 4.6% in October.
The decrease was largely due to lower global energy prices, so there is a limit to how much credit ministers can take.
Tax levels in the UK are at their highest since records began 70 years ago, according to the Institute for Fiscal Studies think tank.
With the Conservatives trailing in the polls, the government has been under pressure from many of its own MPs to cut taxes ahead of a general election, which is expected next year.
This is the first time whisky has been made in Stirling for 171 years. Stirling, Scotland – 28th November, 2023 – Stirling Distillery has