- Jeremy Hunt outlined £55bn in tax hikes and spending cuts to restore the country’s bruised economic credibility.
- In this week’s Budget, he must find ways to boost the country’s lacklustre economic growth amid limited public finances, watchful markets, and political pressures.
- Hunt should begin to phase in full expensing of investment, and research and development tax credits for innovative smaller businesses.
- Support for Britain’s workforce is also important, including improved childcare assistance for low-income households and reforms to pension allowances.
- He is expected to extend a subsidy for household energy prices, rather than taper it as planned.
The UK chancellor’s fiscal conundrum
Jeremy Hunt's Budget must boost growth amid tight finances and political pressures. He must find ways to boost the country’s lacklustre economic growth and support for Britain’s workforce.