The chancellor stated that the “working assumption” in Downing Street is that the election will take place in the fall in an interview with political editor Beth Rigby.
Although Prime Minister Rishi Sunak has already stated that this will happen, there was talk that he might call the referendum sooner if significant tax cuts were revealed in the spring budget.
Even though Mr. Hunt announced today that national insurance (NI) would be reduced by an additional 2p, some Tory MPs were expecting for a “rabbit out of the hat” moment, such as a fall in personal income tax.
Mr. Hunt responded, “Absolutely not,” when asked if the budget was the “last throw of the dice” before an election. Today, we have prepared a budget that indicates a change in direction.”
“It’s the working assumption,” he replied when asked if Downing Street is aiming for an October election and possibly another fiscal event.
