RISHI SUNAK PLEDGES TO CUT TAXES THIS YEAR 

Prime minister Rishi Sunak is expected to set out his pitch for an election on a visit to Lancashire on Monday, with the promise of tax cuts a key feature (Financial Times). Sunak will admit that “2023 was not easy” but that the government has “made progress” and “we are pointing in the right direction.” 

Rishi Sunak told Laura Kuenssberg on Sunday that he wants to cut taxes for working people further this year (The Guardian). His comments raise the possibility of an income tax cut in March, however, the prime minister said this would entail stricter controls on public spending and benefits. Sunak also told The Telegraph that that he wanted to focus tax reductions on providing an incentive to work.  

TREASURY URGED TO AGREE ACTION TO STRENGTHEN LONDON AS LISTINGS DESTINATION 

The Treasury has been urged to convene an emergency meeting of City institutions to stem the flow of firms moving away from London’s public markets and strengthen the City as a place to list (City AM). A letter from the Chartered Governance Institute to Economic Secretary to the Treasury Bim Afolami said the London Stock Exchange was in danger of losing “critical mass” in key sectors in the next 12 months without fast action. 

NEWS IN BRIEF

Older homeowners who downsize should be exempt from paying stamp duty while those who own a second home should be financially penalised to tackle Britain’s housing crisis, according to a report from the London School of Economics and University of Sheffield (The Times). 

Bank regulation on capital has made the financial system more fragile, Jeffrey Meli, Head of Research at Barclays, writes in the Financial Times.  

Britain is more attractive than Europe for manufacturing firms, factory bosses have said, according to a new report from Make UK and PwC (The Telegraph). 

Strikes by London Underground workers due to go ahead this week have been suspended, the RMT union has announced (BBC News).