Rishi Sunak wants to be known as a tax-cutting chancellor
He does not merit that title
WITH BRITISH households facing a cost-of-living crunch, the “spring statement” on March 23rd, an occasion for the chancellor to course-correct between autumn budgets, offered several eye-catching giveaways. Fuel duty will be cut immediately. From July national insurance, a payroll tax, will kick in at a higher income threshold. And in 2024 the standard rate of income tax, paid by 30m Britons, will fall by one percentage point. As Rishi Sunak spoke at the despatch box, Conservatives brayed their support. But the measures add up to less than billed.
This article appeared in the Britain section of the print edition under the headline “Spring in his step”
Britain March 26th 2022
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