Shadow chief secretary to the Treasury says he is reluctant to commit to unfunded tax cuts
Accountancy Age, 06 Aug 2007
Philip Hammond, the recently appointed shadow chief secretary to the Treasury, has said he will not make upfront commitments to making unfunded tax cuts.
Echoing the comments by shadow chancellor George Osborne, Hammond told the FT that the Tories saw very little scope for cuts to public spending, effectively limiting the opportunities for tax cuts.
Hammond said the Conservatives would look at 'rebalancing' the tax system by shifting the tax burden from 'hard work and savings' to 'environmentally harmful' consumption.
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