In an ideal political world, UK Chancellor of the Exchequer Jeremy Hunt would use Wednesday's annual budget to sway voters into keeping his embattled Conservative Party in power at the coming election by serving up a platter of tax cuts. The memory of the gilt-market meltdown triggered by then-Prime Minister Liz Truss's disastrous 2022 fiscal adventure means he's going to have to be far more prudent.

Hunt will announce the latest economic and fiscal estimates from the Office for Budget Responsibility that will frame his spending and tax-raising limits. It's a self-imposed straitjacket over a five-year horizon, which will be especially limiting this time around as the economy is stuck in recession with increasing spending demands coming from all angles. But avoiding another breach of fiscal rectitude has so far been the main attribute of Hunt's tenure. He simply can’t afford to stray too far from the path of economic righteousness.

QOSHE - Bond Vigilantes Curb Hunt's Tax-Cutting Enthusiasm - Marcus Ashworth
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Bond Vigilantes Curb Hunt's Tax-Cutting Enthusiasm

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05.03.2024

In an ideal political world, UK Chancellor of the Exchequer Jeremy Hunt would use Wednesday's annual budget to sway voters into keeping his embattled Conservative Party in power at the coming election by serving up a platter of tax cuts.........

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