Jeremy Hunt says Budget will focus on economic growth as he hints at tax cuts
manchestereveningnews.co.ukJeremy Hunt has said the upcoming Spring Budget will focus on "prioritising economic growth" as he hinted that further tax cuts could be announced on March 6.
The chancellor refused to confirm reports of further tax cuts, but it is understood the Treasury is considering funding lower taxes by reducing unprotected public sector spending across different government departments.
It comes as official figures revealed Britain fell into recession at the end of last year. Data from the Office for National Statistics (ONS) estimates that GDP fell by 0.3 per cent at the end of 2023, following a decline of 0.1 per cent in the previous three months.
The latest statistics mean that the economy has entered a technical recession - which is when GDP falls for two or more quarters in a row - for the first time since the first half of 2020. READ MORE: Rochdale by-election: What was said at the meeting that threw Labour's hopes into turmoil Try MEN Premium now for FREE...
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