It’s actually simple: if you cut taxes, you become more popular.
Still trailing the opposition Labour party in the polls, British Prime Minister Rishi Sunak has, nevertheless, reasons to celebrate.
The support for the Conservative Party and his Premiership has risen no less than by four percentage points in just a few days, after the announcement of tax cuts and financial support this week.
On Wednesday (22), Chancellor (finance minister) Jeremy Hunt announced tax cuts for workers and gave businesses permanent investment incentives in an attempt to speed up a seemingly stagnant economy.
Reuters reported:
“The YouGov polling, carried out after the budget changes, showed support for the Conservatives had risen to 25% compared to 21% a week ago.
But the poll rise still leaves the Conservatives trailing the opposition Labour Party by 19 percentage points. Only 18 percent of people said they thought the budget measures would make them and their families better off.
The poll showed an increase in the minimum wage and decisions to increase welfare and pensions in line with previous promises – rather than limit the rises as some had expected – were all popular with a majority of voters. A reduction in National Insurance tax was backed by 61% of respondents.”
Sunak said that the tax-cutting autumn statement is the ‘start of a journey’, and he kindled hopes for future tax cuts next year.
The PM said claim that his Government will ‘do more when we can’ on tax cuts.
PA Media reported:
“I always said I wanted to cut people’s taxes, but first we had to get inflation under control and stabilise the economy,” Mr Sunak said.
‘We have now done that and it didn’t happen by accident. The Chancellor and I took a set of decisions that weren’t easy, that we got a lot of flak for, that the Labour party opposed, in order to halve inflation and defy the sceptics. Everyone said we were going to have a recession this year in the UK (but) we have actually grown the economy. Because of that our economic policy can shift gears’.
He added: ‘This is the start of a journey. We will do more when we can, because I want to cut taxes, reward hard work, grow the economy and do so in a way that is responsible’.”
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