Hunt Heralds ‘Path’ to Lower Tax Amid Tax Cut Speculation

Chancellor Jeremy Hunt said he will take the “path” to reducing the tax burden while remaining tight-lipped on whether any cuts will be included on Wednesday in the autumn budget. Mr. Hunt declined to comment on media reports that he’s mulling a slash of inheritance tax but said he is “personally uncomfortable” with the tax burden, which is at 35.45 percent, the highest level in over 70 years. Tax burden, measured by the amount of taxes raised as a percentage of GDP, can be lowered by cutting taxes, growing the GDP, or both. The chancellor previously insisted there’s no room to cut taxes this autumn as inflation and interest rates were still too high, but the recently halved inflation figure has rekindled hopes for some trimmings....