Britain’s Conservative government has sought to regain the political initiative with a series of tax cuts for businesses and individuals that it hopes will boost its chances in a national election next year that opinion polls suggest it will lose. Treasury chief Jeremy Hunt said Wednesday that the British economy “had turned a corner,” allowing him to offer what he termed the biggest set of tax cuts since the 1980s. Highlights include a cut to national insurance, which employees pay on their salaries. With public finances still stretched by historical standards, economic growth muted at best and inflation still high, experts warn the government hasn’t got much room for further big giveaways in the run-up to the next election.
