Rishi Sunak has promised tax cuts after the government made good on its promise to halve inflation by the end of the year. The Prime Minister is under pressure from many within his party to reduce the tax burden, currently at its highest level in 70 years, before the next election, with such measures announced in Wednesday's Autumn Statement. There are rumors that it might happen. Making a speech in north London on his economic plans, Mr Sunak said his "argument has never been that we shouldn't cut taxes - it's been that we can only cut taxes once we have controlled inflation and debt". And with the change in inflation - confirmed last week by the Office for National Statistics (ONS) to have dropped to 4.6% - it was time for the government to "begin the next phase" of its plan and "turn our attention to cutting tax". The Prime Minister did not say what the tax would be, but it is expected to be confirmed when Prime Minister Jeremy Hunt makes a statement in the House of Commons on Wednesday.