Govt rules out tax cuts and eyes new non-dom levy

Scott Sinclair
clock

David Cameron has ruled out significant tax cuts while the government is cutting spending to reduce the deficit.

In an interview with The Sunday Telegraph, the prime minister said he wanted to offer people relief, but suggested that would only be possible "at the end of this hard road". The Chancellor, George Osborne, has been facing calls to reduce the burden on hard-pressed voters as inflation spirals ahead of the Budget on 23 March. The Tory mayor of London, Boris Johnson, has urged him to set out how taxes could be reduced. Cameron insisted there was no "plan B" on the coalition's deficit-reduction strategy and said tax cuts would only undo the work of painful curbs in public spending. "I...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Culture is the most effective risk tool wealth managers are missing out on

Culture is the most effective risk tool wealth managers are missing out on

'Understanding a firm's culture is understanding its risk profile'

Bev Shah
clock 09 January 2026 • 5 min read
FCA sets October 2027 date for implementation of cryptoasset rules

FCA sets October 2027 date for implementation of cryptoasset rules

Issues further guidance

Michael Nelson
clock 09 January 2026 • 1 min read
WH Ireland shareholders back Team takeover in key vote

WH Ireland shareholders back Team takeover in key vote

FCA clearance still required

Sahar Nazir
clock 09 January 2026 • 3 min read