Chancellor must cut taxes before the next election, says Kwasi Kwarteng
Former Chancellor Kwasi Kwarteng said that Jeremy Hunt must announce tax cuts to give the Conservatives a fighting chance at the next General Election
The former Chancellor said ‘we can't go into an election saying we're going to just increase your taxes indefinitely’
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Former Chancellor Kwasi Kwarteng said that Jeremy Hunt must announce tax cuts to give the Conservatives a fighting chance at the next General Election.
He told GB News: “I think the one thing he's got to realise is that a year is quite a long time. All I would say about this is that I don't see how he can go into the Budget next year and not give some sort of tax cuts.
“We can't go into an election saying we're going to just increase your taxes indefinitely.
“So, whether he does the tax cut this year in the Autumn Statement or in the Budget next year, I think it has to come.”
In a discussion with Camilla Tominey, he added: “I think he has to give some indication that he's actually going to do what he says he is.
"He says he and the Prime Minister, they're low tax Conservatives, but at some point before the election they have to show that.
“I think if you say you're doing your one thing, you've got to show that you mean business in that regard. I understand the caution, I totally understand that.
“I experienced what I did last year and there was arguably a lack of forward planning. But at the same time, I do think that he has to cut taxes.”
Kwarteng added: “One of the reasons why I think he wants to reduce business taxes is, you never really win votes, but you do actually improve economic conditions, you do actually generate investment.”
On not consulting the Office for Budget Responsibility before he presented his own Budget, he said: “I think looking back, that was a mistake.”
