Sunak said he would create a fiscal burden through economic growth rather than rashly borrowing to subsidize tax cuts. According to a march report by the office for budget responsibility (obr), which operates under the auspices of the treasury, the uk will see gross domestic product (gdp) growth of 2.1% and 1.7% in 2024-25, 2025-26 and 2026-27 respectively. % and 1.7%.
Data provided by sunak's campaign team showed that the fiscal cost of lowering the basic income tax rate by one percentage point was cell numbers list about £6 billion a year. As long as the domestic economic growth trend is as predicted by the obr, and the gdp growth rate can maintain a level of around 1.7% in 2028 and 2029, the british finances can withstand tax cuts while ensuring low debt.
Sunak's statement stressed that his vision for tax cuts was radical but pragmatic. He will never let inflation worsen in order to cut taxes, and he will never make promises that he cannot afford, and he will definitely tell the people honestly about the challenges facing the country.