UK Treasury chief: Tax cuts must wait for inflation to fall

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Britain's Treasury chief said that taming inflation is more important than cutting taxes, resisting calls from some in the governing Conservative Party for immediate tax breaks for businesses and voters.

, with most forecasters expecting the U.K. economy to contract in the first half of 2023.

Most economists agree that Brexit has weighed down the economy by making it harder for U.K.-based businesses to trade with the 27-nation EU.Hunt said changes “necessitated, energized and made possible by Brexit” would help “make Britain the world’s next Silicon Valley,” a leader in digital technology, green energy and the life sciences.

 

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Government believes making everyone poor is the only fox for inflation. In fact stopping government spending works much better

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