You are here: Home » Reuters » News
Business Standard

UK finance minister Hammond says 2015 tax promises hamper government

Reuters  |  WASHINGTON 

(Reuters) - British minister Philip said on Friday that earlier promises not to increase key taxes limited his ability to manage the economy, as his Conservative party prepares to set out its manifesto for an on June 8.

was forced in March to reverse plans to raise payroll taxes for the self-employed aimed at reducing Britain's budget deficit amid accusations that it breached a commitment on taxes in the Conservatives' 2015 manifesto.

Speaking to reporters on a trip to Washington, said that he wanted Britain to be a "sensibly taxed" economy that did not run a budget deficit.

"It's self-evidently clear that the commitments that were made in the 2015 manifesto did, and do today, strain the ability of the to manage the economy flexibly," he said.

There has been previous speculation that the Conservatives' 2017 manifesto will see them abandon commitments not to raise the rate of value-added tax, income or the national insurance payroll

(Reporting by David Lawder, writing by David Milliken; editing by Michael Holden)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

RECOMMENDED FOR YOU

UK finance minister Hammond says 2015 tax promises hamper government

WASHINGTON (Reuters) - British finance minister Philip Hammond said on Friday that earlier promises not to increase key taxes limited his ability to manage the economy, as his Conservative party prepares to set out its manifesto for an election on June 8.

(Reuters) - British minister Philip said on Friday that earlier promises not to increase key taxes limited his ability to manage the economy, as his Conservative party prepares to set out its manifesto for an on June 8.

was forced in March to reverse plans to raise payroll taxes for the self-employed aimed at reducing Britain's budget deficit amid accusations that it breached a commitment on taxes in the Conservatives' 2015 manifesto.

Speaking to reporters on a trip to Washington, said that he wanted Britain to be a "sensibly taxed" economy that did not run a budget deficit.

"It's self-evidently clear that the commitments that were made in the 2015 manifesto did, and do today, strain the ability of the to manage the economy flexibly," he said.

There has been previous speculation that the Conservatives' 2017 manifesto will see them abandon commitments not to raise the rate of value-added tax, income or the national insurance payroll

(Reporting by David Lawder, writing by David Milliken; editing by Michael Holden)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

UK finance minister Hammond says 2015 tax promises hamper government

(Reuters) - British minister Philip said on Friday that earlier promises not to increase key taxes limited his ability to manage the economy, as his Conservative party prepares to set out its manifesto for an on June 8.

was forced in March to reverse plans to raise payroll taxes for the self-employed aimed at reducing Britain's budget deficit amid accusations that it breached a commitment on taxes in the Conservatives' 2015 manifesto.

Speaking to reporters on a trip to Washington, said that he wanted Britain to be a "sensibly taxed" economy that did not run a budget deficit.

"It's self-evidently clear that the commitments that were made in the 2015 manifesto did, and do today, strain the ability of the to manage the economy flexibly," he said.

There has been previous speculation that the Conservatives' 2017 manifesto will see them abandon commitments not to raise the rate of value-added tax, income or the national insurance payroll

(Reporting by David Lawder, writing by David Milliken; editing by Michael Holden)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22