Jeremy Hunt is searching for revenue raisers to fund personal tax cuts in Wednesday’s Budget as support for the Tories drops to its lowest level on record.
The chancellor could cut National Insurance contributions (NICs) - said to be the most likely option - or income tax and is considering a number of measures to fund the giveaways.
Any Budget tax cuts would be funded by tax rises in other areas or cuts to public spending, with Labour braced for the chancellor to steal its policy of ending the non-dom status.
Speaking to broadcasters on Sunday, Mr Hunt said he wanted to cut taxes but would only do so in a responsible and “prudent” way, adding he wanted to build on his previous fiscal event where he cut 2p from NICs.
It comes as the Conservatives hit their lowest polling score on record after a torrid start to the year for Rishi Sunak.
The poll published by Ipsos UK on Monday suggested just 20 per cent of the public would vote for the Tories at the next election, down seven points since January and the lowest score recorded by the party since Ipsos started its regular polling in 1978.
