Jeremy Hunt has pledged tax cuts in the upcoming general election if the Tory part win.
Delivering his Labour’s tax rises speech today, the Chancellor said: "If we can afford to go further responsibly to reduce the double tax on work this autumn that is what I will do."
The chancellor explained that Labour are plotting hikes to fund their spending pledges.
He claimed that they are publishing “50 new official costings of announced policies that show their commitments cost a total of £59billion over the next four years.”
Jeremy Hunt had earlier suggested he will seek to cut taxes further in the autumn, but only if he can do so responsibly.
The Chancellor said: “If we can afford to go further responsibly to reduce the double tax on work this autumn that is what I will do.
There is an “ocean of deep blue water” between the Conservatives and Labour, Jeremy Hunt said
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“Because over time we make no apology for wanting to keep cutting the double tax on work until it is gone, but only when we can do so without increasing borrowing and without cutting funding for public services or pensions.”
Hunt branded Labour’s economic plans a “lie” and accused the party of spreading “fake news”, and trying to win the election by “scaring pensioners about a policy that is not true”.
When speaking about the Treasury analysis of Labour spending plans he said: “Even at the most cautious assumptions possible, it is not possible for Labour to fill this black hole other than by increasing taxes, and that is what a future Labour government will do.”
There is an “ocean of deep blue water” between the Conservatives and Labour, Hunt said when looking at their policies on tax, jobs and welfare reform.
He added: "That is the difference between more jobs or fewer jobs, more people on welfare or fewer, tax cuts or tax rises, more growth or less growth.
“In short, a prosperous future or a poorer one.”
Referring to Labour’s employment rights proposals, he added that Angela Rayner wants “70 new burdens” for employers which would turn the “job-creating factory” of Britain into a “French-style inflexible labour market”.
The Chancellor said: “It may sound good to offer full employment rights from day one, and certainly pleases the unions. But if the impact is fewer new jobs, then the impact on young people and families up and down the country will be an unmitigated tragedy.”
During the speech, he did not commit to raising income tax thresholds, which are dragging lower earners into paying more tax.
Asked about the commitment, the Chancellor said: “I can’t today tell you what will be in the Conservative manifesto for the next parliament.
"But what I can do is make a very clear argument that we will bring down taxes, and I can do so with credibility because that is already what we have been doing.”