New tax cuts are unlikely to be seen within the next five years, Chief Secretary to the Treasury Danny Alexander has said.
In an interview with the Observer newspaper, he said: ‘I think the tax burden is necessary as a significant contribution to the getting the country’s finances in order.’
‘So it will have to stay at that level for quite some time.’
Rather than reducing the overall national tax burden, he implied that a more redistributive system was the priority, saying: ‘The plan we set out is to rebalance the tax system.’
‘We need the tax revenues from the taxes we are putting up to help us reduce the deficit.’
Some people had hoped that considerable government cuts would create conditions for tax cuts within the life of the new coalition government.
This hope has been crushed by the latest statements.