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“No tax cuts before inflation cools off” is the warning in the Daily Telegraph’s headline, as the paper reports that the prime minister is unlikely to reduce taxes to help with the cost of living before next year. No 10 and the Treasury fear that cutting income tax and reversing the National Insurance increase any earlier than that could fuel further price rises.

Daily Telegraph Front Page 9th of January 2025

The Treasury has intervened with extraordinary measures to stabilise the turbulent financial markets, addressing the impact of the recent Budget and the rising costs of national debt, in an effort to restore confidence and prevent economic destabilisation.

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