Boris Johnson press conference on cost of living crisis

The transcript discusses fiscal measures and tax reduction strategies, emphasizing the need for patience in implementing income tax cuts. It highlights the economic resilience post-COVID and the government's plans to stimulate growth through sensible tax cuts. The discussion also covers current tax cuts, including National Insurance and Council tax reductions, aimed at easing the cost of living and driving economic growth.

What was one of the main reasons the speaker mentioned for not reducing income tax to 2P?

• It was not proposed by the opposition.

• It is not practical given the current fiscal situation.

• It would lead to a decrease in government revenue.

• It was already implemented last year.

How does the speaker suggest the government plans to stimulate further growth?

• By implementing tax cuts when they are deemed sensible.

• By increasing public spending significantly.

• By increasing import tariffs.

• By reducing the workforce in public sectors.

What is one of the measures mentioned to reduce the tax burden for working people?

• Raising income tax for high earners.

• Cutting National Insurance contributions.

• Introducing a new property tax.

• Increasing VAT on luxury goods.

What is the average amount by which National Insurance contributions are being cut?

• £500

• £330

• £200

• £150

Which tax was reduced by the largest amount ever, according to the speaker?

• Fuel duty

• Council tax

• Income tax

• Capital gains tax