Chancellor Jeremy Hunt is to address the Conservative Party conference today amid growing calls for tax cuts from various factions within the party.
Where does this leave the Conservatives, the party which preaches lower taxes but has presided over a record rise since 2019?This party conference is, in the words of one former minister I spoke to,"the survival conference" - a year on from Liz Truss announcing a series of unfunded tax cuts which saw the bond markets tank and her premiership unravel.
"We don't need signals, we need action," he said."I think the autumn statement is a time to say, this is what we are doing on this particular tax. I would be in favour of reversing the increasing corporation tax, as Liz Truss is. The party will also confirm it will accept recommendations to raise the national living wage to at least £11 an hour in 2024 - meeting a manifesto commitment to raise the wages of the lowest paid to two-thirds of the median earnings.
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