Labour accuses Hunt of being ‘out of touch’ on economy as polls open in Kingswood and Wellingborough – UK politics live

Labour aiming to win two byelections as chancellor defends Sunak’s record, saying ‘economy is turning a corner’

Jeremy Hunt is considering making billions of pounds of spending cuts to fund pre-election tax cuts in the next budget, according to a report.

The chancellor is looking at “further spending restraint” after 2025 if official economic forecasts suggest he does not have enough headroom to pay for “smart tax cuts”, the Financial Times reported, citing Treasury insiders.

The prime minister can no longer credibly claim that his plan is working or that he has turned the corner on more than 14 years of economic decline under the Conservatives that has left Britain worse off.

This is Rishi Sunak’s recession and the news will be deeply worrying for families and business across Britain.