Conservative MPs have been warned there is no “headroom” to cut taxes, as the chancellor focuses on foreign investment.
Jeremy Hunt will use his first Mansion House speech tonight to reveal plans to cut regulation and simplify rules for buying and selling shares in the UK. He will also announce plans to release billions of pounds from pension funds to invest in early stage and fast-growing companies in the life sciences and financial technology sectors.
He is expected to defy a plea from Tory MPs to consider tax cuts in his autumn statement.
