UK’s Hunt: The British economy has passed a dangerous turning point

Jeremy Hunt, the British Finance Minister, pledged on Friday not to take any action that would “hinder the battle against inflation” amid calls for more significant tax cuts from the right wing of the Conservative Party.

“The UK economy has crossed a dangerous turning point in the recent period after the emergence of the latest batches of data that shed light on the decline in price growth to 4.6% last October”, Hunt said, but he also warned that inflation is still “the greatest danger facing the economy.”

Although the data reflects that the government has fulfilled its pledges to reduce consumer price inflation by half, it is unlikely that the large tax cut expected next fall will be approved.

The British Finance Minister added: “The ideal way to reduce tax burdens is to develop the economy, so growth will be what we will focus on in the coming period.”

Hunt is facing intense pressure from within his party to provide more to British voters in terms of financial conditions at a time when the Conservatives are trying to stop the progress of the Labour Party.