Skip to content
Search

Latest Stories

Submit Guest Post

Javid, Hunt pledge tax cuts as they launch leadership bids

There are eight candidates already, with at least two more still expected to join the race

Javid, Hunt pledge tax cuts as they launch leadership bids

BRITAIN's former health secretaries have launched leadership bids to succeed Boris Johnson as prime minister, according to a report.

Jeremy Hunt and Sajid Javid used interviews with the Telegraph newspaper to announce their intention.

Both Hunt, who lost out to Johnson in the 2019 leadership race, and Javid, said as leader they would cut corporation tax to 15 per cent, while Javid also said he would reverse an increase in social security contributions which took place in April. The current corporation tax rate is 25 per cent.

"It’s very straightforward why I want to do it," Hunt told the Telegraph of his plans to run. "It is because we have to restore trust, grow the economy, and win the next election."

Javid, who is also a former finance minister, told the newspaper: "We cannot afford not to have tax cuts."


Also Read | What former health secretary Javid told parliament in his parting blow to PM Boris Johnson


Transport secretary Grant Shapps and finance minister Nadhim Zahawi had earlier launched their campaigns. According to reports, there are eight candidates already, with at least two more still expected to join the race.

An increase in national security contributions was introduced during Javid's time as health secretary to fund the NHS and social care.

In an apparent attack on Rishi Sunak, his rival for the leadership, Javid told the Telegraph: “I'm not sure I would have done it if I had been chancellor, but I was focused on my job and I'm not trying to do other people's jobs for them.”

Recently, Rishi Sunak announced he will stand in the Conservative Party leadership contest via a slickly-produced video.

Posting a clip on Twitter, alongside a #Ready4Rishi hashtag, he wrote: “I’m standing to be the next leader of the Conservative Party and your Prime Minister.

“Let’s restore trust, rebuild the economy and reunite the economy.”

Meanwhile, Javid also announced the idea to bring forward the planned 1 per cent income tax cut to next year and a further temporary cut to fuel duty.

Hunt, 55, said he had plans to scrap business rates for the most deprived parts of the country for five years. He also revealed plans to slash corporation tax to 15 per cent, the lowest level allowed under a recent agreement of the G20.

Hunt also criticised Johnson's levelling-up agenda for being "far too New Labour". He also pledged to immediately slash the 19 per cent rate to 15 per cent in an autumn budget. 

According to the report, he also argued that he was the 'only major candidate who 'has not served in Boris Johnson's government'.

Add EasternEye As Your Trusted Source
preferred source on google news

More For You

India UK
Indian companies are strengthening their investment footprint in the UK ahead of the India-UK trade deal.
iStock

India-UK trade deal clears final hurdle as new customs rules pave way for July 15 rollout

  • India has notified customs rules for the India-UK Free Trade Agreement, clearing the way for its implementation on July 15.
  • The agreement will eliminate or reduce tariffs on most goods traded between the two countries, benefiting exporters and businesses.
  • The deal is expected to increase annual bilateral trade by £25.5 billion in the long term.

The India-UK Free Trade Agreement (FTA) has taken another step towards implementation after India notified the customs rules that will determine whether goods qualify for preferential tariff treatment under the landmark deal. The new rules, issued by the Central Board of Indirect Taxes and Customs, will come into force on July 15, the same day the trade agreement becomes operational.

The notification outlines how the country of origin of goods will be determined under the India-UK Comprehensive Economic and Trade Agreement (CETA), a key requirement for exporters seeking lower or zero customs duties. Only products that meet the agreed origin criteria will be eligible for the tariff concessions offered under the agreement.

Keep ReadingShow less