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UK’s Hunt to cut taxes to boost economy and election prospects

LONDON, Nov 21 (Reuters) – Finance minister Jeremy Hunt will announce tax cuts for businesses on Wednesday – and possibly some for voters too – as he tries to speed up Britain’s sluggish economy and help his struggling party before an election expected next year.
Buoyed by a fall in inflation, Hunt plans to use his Autumn Statement budget update speech to parliament to shift the government’s focus to fixing the long-running weak growth problem of the world’s sixth-biggest economy.
Another, more immediate concern of Hunt and Conservative Prime Minister Rishi Sunak will be the big opinion poll lead of the opposition Labour Party with an election likely within the next 12 months.
Hunt is due to announce ways to boost business investment by 20 billion pounds ($25 billion) a year over the next decade, cut taxes and get more people into work, according to excerpts of his speech shared with media.

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