Jeremy Hunt told Sky News in an interview at the World Economic Forum in Davos that the “most active” economies tend to be those with the lowest taxes, ahead of elections.
The Prime Minister has said he wants to cut taxes in this spring’s budget, declaring that doing so is the quickest way to get the economy growing again.
He spoke to Sky News near the World Economic Forum in Davos. jeremy hunt He said he hasn’t yet seen fiscal numbers ahead of the March event, but is hopeful for a tax cut.
“If you look around the world, you’ll find that the fastest growing regions and the most dynamic economies, such as the United States and Asia, tend to have lower taxes,” he said.
“That is why we made a decisive tax cut in the Autumn Statement.
“So my priority in the budget is growth, because if we can grow the economy, we can get more funding for the NHS, we can ease pressure on families, we can invest in a good army. Because it means.”
The Prime Minister arrived at Davos later than almost all other major politicians as he wanted to be in London to vote on the Rwanda Bill in parliament on Wednesday night. He said that by the time the vote was over, the only way to get to Davos in time for Thursday’s meeting would be to charter a private jet.
Shadow Chancellor Rachel Reeves said his absence had been noted earlier this week.
“Leaders of other countries around the world are here, but without government leadership, we will miss out on investment, we will miss out on jobs and prosperity,” she said.
“And I am determined that if I become Prime Minister this time next year, I will do everything I can to bring jobs, prosperity and investment to Britain.”
One of the main issues clouding this year’s event is that the Red Sea is largely closed to shipping.
The transport crisis felt in Davos
Mr Hunt said airstrikes by the UK and US on Houthi strongholds were essential, despite concerns that this would lead to a further spike in inflation.
“It is vital that the UK takes decisive action with our US allies to ensure the Red Sea routes are secure,” he said.
“These are very important global trade routes and the UK, because of the actions we have taken, has a very important role to play in the world in securing these trade routes.”