British Chancellor of the Exchequer Jeremy Hunt said in a speech today that significant tax cuts in the upcoming budget are “unlikely”. The chancellor has instead stuck to the government’s tax-hiking plans, pledging to use the funds to finance post-Brexit reforms.

Hunt also urged the public to “stop declinist talk” and said the government would focus on boosting growth. He argued that Brexit will drive growth, despite ruling out the possibility of tax cuts.

The chancellor’s speech comes as the UK economy is facing a number of challenges, including Brexit and the coronavirus pandemic. The government has been under pressure to provide financial support to businesses and individuals affected by the pandemic.

In his speech, Hunt acknowledged the difficult economic situation, but argued that the UK was in a strong position to weather the storm. He said the government was committed to helping businesses and individuals, and that the post-Brexit reforms would provide the necessary support.

The chancellor’s speech was met with mixed reactions. Some praised the government’s commitment to boosting growth, while others argued that tax cuts were necessary to provide much-needed relief to businesses and individuals.

Overall, the chancellor’s speech was seen as a sign that the government is determined to push through with its post-Brexit reforms, despite the difficult economic situation.