‘Best tax cut is a cut to inflation’

F.P. Report

LONDON: The best tax cut is a cut to inflation, said Britain’s Treasury chief on Friday, adding that this is the “only sustainable way to restore industrial harmony.”

Speaking at Bloomberg headquarters in London about his plans to grow the economy, Chancellor of the Exchequer Jeremy Hunt said that they need to make Brexit “a catalyst for bold choices.”

He said that enterprise, education, employment, and everywhere are the four E’s for economic growth and prosperity.

“If we’re to be Europe’s most prosperous economy, we need to have quite simply its most dynamic and productive companies,” added Hunt.

Saying that even after recent tax rises, Britain has one of the lowest levels of business tax as a proportion of GDP among major countries, he ruled out a tax cut, saying “the best tax cut right now is a cut in inflation.” (APP)