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Chancellor Jeremy Hunt is seeking to shift attention on Monday from an escalating Conservative conference row over high levels of tax by announcing policies intended to put the Tories on the side of “workers versus shirkers”.
Article originally published by The Financial Times. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.
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03 Oct 2023
Hunt ruled out tax cuts in the short term on Monday morning, warning that to reduce them now would be “inflationary” and that they could only be afforded if the government took “difficult decisions”.
So far the party conference has been dominated by a clamour from senior Tories, including some ministers, for UK prime minister Rishi Sunak and the chancellor to cut taxes before the election.
In a bid to change the topic, Hunt is planning to guarantee in his speech later in the day that the national living wage will rise by at least £1,000 next year, meeting a 2019 manifesto commitment to increase pay for the lowest paid to two-thirds of median earnings.
He will also promise to introduce new sanctions on benefit claimants who refuse to seek work, which Tory insiders said could be aimed at up to 100,000 people.
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