A cabinet minister in the UK government has indicated that tax cuts will be considered if the government can meet its target of halving inflation by the end of the year. Immigration Minister Robert Jenrick stated that the government's first priority is to address inflation, describing it as a "great evil."
He acknowledged that Conservatives and the public desire tax cuts but emphasized the importance of controlling inflation first. The government has limited tools to reduce inflation, and raising interest rates, which is controlled independently by the Bank of England, is considered the primary means to tackle it.
The government's commitment to reducing inflation is one of its key pledges, with a target of halving inflation from 10.7% to 5.3%. However, recent figures show that the UK's overall inflation rate is at 6.7%.