Rishi Sunak, the UK Prime Minister, expressed confidence that he will be able to cut taxes before the next election, despite facing more by-election challenges. Sunak is on track to reduce inflation to below 5.3% by the end of the year, which could pave the way for tax cuts in the spring. Speaking in London, Sunak emphasized his commitment to delivering a lower tax economy for the country. However, he stressed the importance of first bringing down inflation. Currently standing at 6.7%, experts anticipate a significant decrease in November due to declining energy costs.

Labour in the Lead, Sunak Asked About Tax Cuts

Recent polls show that the Labour party holds a 20-point lead. In light of this, Sunak was questioned about whether he would consider offering tax cuts to boost his party's chances in the upcoming election. He affirmed his desire to reduce taxes, stating that as a Conservative, he believes in doing so. However, he emphasized that his priority as Prime Minister was to tackle inflation, citing Margaret Thatcher and Nigel Lawson as his economic policy influences.

Awkward By-Election for Tories in Northamptonshire

The Conservative party faces yet another challenging by-election in Northamptonshire. Tory MP Peter Bone was formally suspended from the House of Commons, triggering a recall petition in his Wellingborough seat. To initiate a poll, ten percent of voters must sign the petition. The petition will open on November 8 and close on December 19, potentially pushing the by-election into 2024. Labour has called on Mr. Bone to resign immediately to spare constituents the inconvenience of the recall process.