Jeremy Hunt yesterday hinted at an autumn election as speculation continues to grow over when the country will head to the polls. Later today, a bill banning the next generation from being able to buy cigarettes will be introduced.
Chancellor Jeremy Hunt said the fall in inflation could pave the way for the Bank of England to cut interest rates.He said: 'Families today will heave a sigh of relief that we are firmly on track to bring inflation down to its target of 2%. This is the lowest headline rate for two-and-a-half years.'But most encouragingly food inflation, which was nearly 20% a year ago, is now just 5%.
'He would not be drawn on whether the fall would allow him to announce pre-election tax cuts in an autumn statement.Mr Hunt told broadcasters: 'What I'm really saying is that as inflation gets closer to its target, that opens the door for the Bank of England to consider bringing down interest rates, that brings down mortgage rates, that makes a very big difference.'It's far too early to know whether we'll have another fiscal event before the election.
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