Rishi Sunak Sees No UK Income Tax Cuts Before Fall 2023 (1)

Rishi Sunak, who is in the final runoff to be Conservative leader and the next UK prime minister, does not envisage being able to cut personal taxes until the fall of 2023 at the earliest.

The former Chancellor of the Exchequer has said repeatedly during the leadership campaign that he would not cut personal taxes until inflation is under control. Sunak’s conclusion -- based on Treasury analysis -- is that that won’t happen on a consistent basis until the middle of next year, according to a person who spoke on condition of anonymity.

Rishi Sunak in London, on July 21.

Photographer: Carl Court/Getty Images

A spokesperson for Sunak had ...