The chancellor is considering cutting inheritance and business taxes in next week's Autumn Statement, the BBC has been told. It is thought Jeremy Hunt's decision will depend on the latest predictions from the UK's main economic forecaster. A Treasury source said no final decisions had been made, but Mr Hunt refused to rule it out in a BBC interview.
Businesses in the automotive, aerospace, life sciences and clean energy sectors will be among firms in line to receive government funds where "the UK is or could be world-leading", Mr Hunt said. The chancellor was expected to receive the latest economic forecast from the Office of Budget Responsibility (OBR) - a body which assesses the health of the UK's finances and is independent of the government - on Friday.Mr Hunt has previously said tax cuts are "virtually impossible" and instead warned of "frankly very difficult decisions" in the Autumn Statement on Wednesday, which is when he will outline the government's latest tax and spending decision