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Budget 2021: chancellor limits spending to start building election war chest
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Rishi Sunak intends to cut taxes before the next general election, after limiting his budget help to deal with a winter cost of living crisis in order to start building up a war chest for the coming years.
The chancellor made clear that the boost to spending made possible by a stronger than expected economic recovery this year would not be repeated as he reassured Tory MPs that he would take action to reduce the UK’s highest levels of taxation since the early 1950s.
Hours after delivering his third budget speech, Sunak told his backbenchers: “I won’t mince words with you … it is my view that going forward every marginal pound we have should be put into lowering people’s taxes, not more spending”.
Earlier, the chancellor had sought to ease
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