There are concerns that the unusual strategy of talking about tax cuts may end up raising expectations too much.
by Sam Coates, deputy political editor @Sam Coates Sky
Sunday 21 January 2024 at 19:10, United Kingdom
Rishi Sunak will seek to refocus attention on the economy this week amid questions about how long his chancellor will remain in office.
Downing Street issued a statement in October saying: “The Chancellor will deliver the autumn statement in a few weeks and the budget next spring.”
Last Politics in Jack and Sam’s podcast The episode discusses how Mr Sunak has since made clear that the election will not even take place The second half of the year.
The preferred polling day is not thought to be until November, meaning there are now several months and possibly another financial statement before polling day.
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This carefully worded statement, provided by No10 sources amid speculation about the chancellor’s future in the autumn to The Times and The Sun, appears to open the door to… Jeremy Hunt They will be replaced after the spring budget.
Claire Coutinhoa close ally of Mr Sunak The recently appointed energy minister is believed to be among the potential candidates, although others worry she does not have the experience.
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Hunt is now preparing the spring budget, and does not seem to know whether it will be his last. He has insisted he will stand again for his Surrey seat at the election.
Sky News revealed last year that there were questions from some about Sunak about whether Hunt should continue in office. These claims were dismissed by Number 10 and he remained in office Cabinet reshuffle in November last year.
Politics on Jack and Sam’s podcast also reveals concerns that the unusual strategy of talking about tax cuts could end up raising expectations.
The Treasury has not yet received its first preliminary forecast from the Office for Budget Responsibility, the financial watchdog, about how much money it may have to spend on the March 6 event.
Every penny of income tax would cost £7bn, and the latest report from Capital Economics suggests the Chancellor may have around £14bn to spend.