(Adds details from report, background)
March 17 (Reuters) - British Prime Minister Rishi Sunak
plans to offer pre-election tax cuts in next year's budget if
inflation falls below 3% this year, Bloomberg News reported on
Friday, citing people familiar with the matter.
"As Conservatives we all want to reduce the size of the
state and cut taxes," Sunak said at a pre-budget Cabinet meeting
on Wednesday, according to the report.
Finance minister Jeremy Hunt sought in his budget on
Wednesday to revitalise the stagnating economy, which he said
was now set to avoid a recession this year.
Citing new Office for Budget Responsibility figures, Hunt
said inflation was set to fall from 10.7% in the final quarter
of last year to 2.9% by the end of 2023.
(Reporting by Akriti Sharma in Bengaluru; Editing by Hugh
Lawson)
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