LONDON, March 11 — British finance minister Jeremy Hunt said he wanted to lower tax rates for individuals and especially businesses in the longer term but warned it would take time because the economy needed to grow more quickly first.
“I want to bring down personal taxes, because that is at the heart of what being a conservative is, but I want to bring down business taxes even more,” he told GB News. “We aren’t going to be able to get there in one bound.” Lawmakers in Hunt’s governing Conservative Party want him to halt April’s sharp jump in the corporation tax rate to help an economy on the verge of recession and which is the only one in the Group of Seven not to have recovered its size of before the coronavirus pandemic.
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