UK Chancellor of the Exchequer Jeremy Hunt said on Friday (27) that the best tax cut for the country is to reduce inflation, and that individuals and companies can only take risks when governments provide economic and financial stability.
In an interview at Bloomberg’s London headquarters, Hunt repeated some of the points of Prime Minister Rishi Sunak’s government’s fall declaration that the fight against inflation is one of the current administration’s five priorities, including economic growth, which has slowed economic growth. A reference to public deficits, reducing waiting lists in the health care system, and “stop the boats,” programs to prevent illegal immigration.
According to Hunt, talk of England’s decline “was wrong in the past, and it is wrong today”. He also proposed an end to what he called “declineism”, a form of discourse previously attributed to Labour’s opponents. He said he disagreed with what columnists on the left and right were saying about Britain heading into an “existential crisis” and could only hope things didn’t get worse.
According to Hunt, the four “E” pillars of the Conservative government’s plan are business (“enterprise”), education (“education”), employment (“employment”) and everywhere (“everywhere”).
Another promise is to “turn the United Kingdom into the next Silicon Valley”, by encouraging innovation. “I want the world’s tech entrepreneurs, life science innovators and green technology companies to come to the UK because it offers the best place to realize their visions,” he said.
Although there is still criticism of the state of the economy after the decision to leave the European Union, Hunt said it was possible to “make Brexit a catalyst for bold choices” because the process “allows us to enjoy agility and flexibility. It allows us to”.
On taxation, he said higher rates would directly affect the incentives that determine the decisions of entrepreneurs, investors or large companies whether to pursue their ambitions in Britain or not. “Good money must come first, but our ambition should be no less than having the most competitive tax regime in any major country. This means controlling tax expenditures,” he said.
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