Good News for Sunak
Rishi Sunak has received a rare piece of good news as he is expected to hit the target to halve inflation by the end of the year. Figures released next week are expected to show that the rate has dropped to its lowest level in two years.
Fighting to Get Inflation Down
Government sources have called it "positive news" but acknowledge that "the fight is not over" as they aim to get inflation down to its 2% target as soon as possible. Inflation is seen as a burden on the economy, particularly for those on low and fixed incomes.
Relief for Voters
Voters in Prime Minister Boris Johnson's own seat are calling for tax cuts, according to fresh polling. Fewer than 10% of voters in the new Richmond and Northallerton constituency believe that taxes will be lower if the Tories win the next election. A majority of 60% associate the Conservatives with high taxation.
Pressure for Tax Cuts
Tory MPs are putting pressure on the Prime Minister to cut taxes. Former Cabinet Minister David Jones believes that putting more money in people's pockets will be appreciated. The influential New Conservatives bloc has also released its own tax plan, calling for tax cuts on families and small businesses.
Concerns for Drinks Businesses
Drinks businesses have expressed alarm over the possibility of the Treasury raising alcohol duty for the second time in four months. Stephen Russell, from Copper Rivet Distillery in Kent, warns that this could lead to more pub and distillery closures.
The Importance of Financial Hope
According to Damian Lyons Lowe, Chief Executive of Survation, the upcoming Autumn statement by the government needs to offer financial hope to financially squeezed voters in order to regain ground in the polls.
