Sunak promises to cut taxes 'carefully and sustainably'

RISHI Sunak has promised tax cuts to boost economic growth and "reward hard work" ahead of this week's Autumn Statement.

The Prime Minister yesterday suggested that, alongside a reduction in the tax burden, the Government would also seek to squeeze welfare spending by getting people back into work and clamping down on fraudsters.

Mr Sunak, who has stressed the need to be responsible with the public finances, said he was able to move on to the "next phase" of the Government's economic plan after inflation fell to 4.6% in October.

Although Mr Sunak has met his own pledge of halving inflation in 2023, the rate of the Consumer Prices Index is still well above the Bank of England's 2% target.

The prospect of tax giveaways comes ahead of a general election expected next year and with the Tories seeking a boost to turn around opinion polls which have shown consistent Labour leads.

The Prime Minister and Chancellor Jeremy Hunt are under pressure from some Tory MPs to slash taxes, but Mr Sunak said that would only happen "over time".