The prime minister and chancellor will reject calls for an early tax cut in a joint speech next month.
Boris Johnson and Rishi Sunak have been under pressure by members of their own party, including members of the cabinet, who see a tax cut as vital to help with the cost of living crisis.
But the prime minister has said tax cuts would not be implemented while inflation remained high. Instead the speech, which is expected in the next three weeks, will attempt to “join the dots” of the government’s economic strategy.
