SHOW US PATH TO LOWER TAXES, MPS TELL CHANCELLOR

LONDON’S Tory MPs have told the Chancellor he should “show there is a path” to lower taxes during his spring budget.

Jeremy Hunt met with the capital’s Conservative MPs ahead of his financial statement on March 15 to discuss the economic issues impacting Londoners.

Chipping Barnet MP and former cabinet minister Theresa Villiers told the Standard: “Everyone recognises that there are limits to what he can do on tax at the moment, because of the huge costs of the pandemic and the impacts of the war in Ukraine.

“I think we would all like to see the Chancellor show there is a path to lowering taxes in the future.”

Government borrowing hit a far higher than expected £27.4 billion last month, jumping by £16.7 billion year-on-year, figures released by the Office for National Statistics yesterday showed.

But with inflation forecast to fall and hopes rising that the economy may have avoided a recession in the second half of 2022, Mr Hunt has been facing calls from some to cut taxes to boost growth.

Lord Gus O’Donnell today said Mr Hunt would be right to reject any demands for tax cuts from the Tory back benches.

“We need to get the borrowing down,” Lord O’Donnell told LBC. “So I’m with the Chancellor that actually if we want the public services that I think people are demanding of a rich society like ours, then you have to pay for them one way or the other.”