Chancellor Jeremy Hunt to meet Prime Minister Rishi Sunak for crunch talks as ... trends now
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Chancellor Jeremy Hunt is this weekend scrabbling to find the money to make a 2p cut in personal taxation in Wednesday's Budget - and rescue the Tories election hopes in the process.
The Treasury had hoped to have around £30bn available for handouts, but unexpected rises in the cost of Government borrowing has reduced that to around £13bn, equivalent to a 1p cut in income tax and 1p off National Insurance.
Mr Hunt is exepcted to meet Prime Minister Rishi Sunak this evening (Sunday) to finalise the plans, which will include a crackdown on non-dom tax status and might include a tax on vaping, holiday lets or a further windfall levy on oil and gas companies, all in order to free up more mney for personal tax cuts.
Mr Sunak had hoped that a tax-cutting Budget would finally help the Tories to reel in Sir Keir Starmer's daunting opinion poll lead, and put the economy on a buyoant path towards a second giveaway Budget in the autumn before a general election.
Jeremy Hunt (pictured) is exepcted to meet Prime Minister Rishi Sunak this evening (Sunday). Pictured, Chancellor of Exchequer leaving Downing Street
Rishi Sunak had hoped that a tax-cutting Budget would finally help the Tories to reel in Sir Keir Starmer 's daunting opinion poll lead. Rishi Sunak addressing the nation outside Downing Street
However, some Tory MPs warn against 'waiting for
