The Truss-era Growth Commission launched its alternative budget today ahead of the Spring Budget next week. They’ve put forward some pretty sound tax reforms: cut corporation tax to 19%, unfreeze tax allowance, phase out marginal 60% tax rate and abolish inheritance and tourist tax. They’ve sprung the idea to “rein in government overspend” to allow for the people to keep more of their money.
Meanwhile the Institute for Fiscal Studies has warned that the UK is facing a £100 billion tax jump as a surge in immigration stretches public finances, hitting Brits with taxing times. Hunt would be wise to listen to some of the reforms put forward today over the ever-wrong OBR…