Jeremy Hunt preparing ‘slim Budget without tax cuts’

Chancellor wants to balance the books, as Liz Truss supporters launch tax-cutting growth group

Chancellor Jeremy Hunt is said to be preparing to announce a slimmed-down Budget in March without any tax cuts as he tries to balance the books after the financial turmoil of Liz Truss’s brief premiership.

Some frustrated Tory MPs who backed the Truss government’s plan for the radical tax cuts which sparked market panic are preparing to push again for the “growth” agenda.

Some senior figures in the Truss cabinet are thought to have gathered in former Treasury minister Simon Clarke’s office last night to launch the Conservative Growth Group (CGC).