UK Finance Minister Jeremy Hunt has ruled out short-term tax cuts, citing concerns over inflation. Hunt stated that the focus is currently on reducing inflation and that tax cuts could only be considered after difficult decisions are made. This decision comes despite calls from within the Conservative Party to reduce taxes before the upcoming General Election. Hunt unveiled other policies, including raising the national living wage and implementing tougher benefit restrictions. Prime Minister Rishi Sunak faced criticism after stating that reducing inflation is the best tax cut he could offer, although inflation is not technically a tax.

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