Increase productivity and taxes may be cut, Jeremy Hunt urges public sector - after Boris' jibe to 'be more Conservative'
According to Mr Hunt, keeping up with projected spending pressures would mean increasing annual tax revenues by £200 billion by 2071, or doubling income tax and main rate of employee national insurance.
"Tackling inflation must be the immediate priority - but that's the starting point, not the end point. We need growth driven by increases in productivity. The Office for National Statistics said CPI inflation fell to its lowest level for more than a year in April, at 8.7%, down from 10.1% in March, as energy prices stabilised after sky-high rises a year ago.Andrew Marr's epic takedown of Boris JohnsonShadow chief secretary to the Treasury Pat McFadden said: "The Chancellor's speech is an admission of failure from the Government.
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