Chancellor Sajid Javid hints he could slash taxes within months

Mail Online | 8/16/2019 | Larisa Brown Political Correspondent For The Daily Mail;Henry Martin For Mailonline
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Sajid Javid last night delivered a significant hint he will cut taxes in the upcoming Budget – including for higher earners.

In an interview, the Chancellor labelled himself a ‘low-tax guy’ and suggested he would cut tax rates where this would raise more money.

Rules - Predecessor - Philip - Hammond - Britain

He admitted he was considering redrawing the ‘fiscal rules’ followed by predecessor Philip Hammond, saying Britain has some of the ‘lowest rates on government debt this country has ever seen’.

‘I wouldn’t be doing my job if I wasn’t thinking seriously about how do we use [that opportunity],’ he told The Times.

Chancellor - Switch-up - Stamp - Duty - Buyers

The Chancellor's potential switch-up in stamp duty would mean first-time buyers avoiding paying the tax and helping families looking to buy larger properties - but the shift would mean bigger tax bills for property owners looking to downsize.

He promised that those earning the least would be the first in line to benefit from slashing taxes, but also hinted that higher earners could still see their tax bills reduced.

Mr - Javid - Tax - Cuts - Earners

Mr Javid had suggested tax cuts for higher earners during his bid to become prime minister. Meanwhile Boris Johnson’s campaign proposal to raise the higher income tax threshold from £50,000 to £80,000 was heavily criticised.

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