Jeremy Hunt has faced down Tory MPs demanding tax cuts in the March Budget, against a backdrop of more gloomy news about the prospects for the British economy.
The chancellor joked that he had endured a “punishing” encounter with Tory MPs at a private meeting at Westminster where some warned him not to wait until a pre-election Budget in 2024 before cutting taxes.
But Hunt insisted that halving inflation to 5 per cent by the end of the year was his priority, and warned that cutting taxes now would make that task harder.
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