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00:00In an attempt to strengthen the papers of the Conservative Party to the voters in Britain,
00:07the Treasury Ministry is preparing to study a new plan that will be followed by further tax cuts,
00:14where the Treasury Minister Jeremy Hunt is studying a plan, a third reduction of 2 pence in national insurance,
00:21which means a reduction of the national contribution rate to half since last November,
00:27i.e. from 12% to 6%, which costs about 9 billion pounds.
00:34In addition to that, Hunt is seeking to lower the tax rates by increasing the minimum limit for calculating those rates
00:41from 250,000 pounds to 300,000 pounds for people who want to buy a house,
00:48which means that half of the buyers of new houses will not pay that tax,
00:53which is a step that costs the Treasury about 3 billion pounds annually by the end of the contract.
01:00Jeremy Hunt's plans to issue a new bill of tax cuts before the upcoming general elections will be put under the spotlight,
01:10and the British government will have to answer the question,
01:14how will these plans affect the possibility of increasing taxes or reducing public spending after the elections?
01:21A team from the International Monetary Fund is preparing to visit London to conduct an annual assessment.
01:27They will look at the details of Hunt's plan for tax cuts and its potential impact on the country's economy.
01:34The IMF has already reported on the financial monitoring,
01:40as one of four major economies that needs to take strong measures to deal with the main differences between spending and wills.
01:50Riyadh Al Saadi, CNBC, London