UK finance minister Zahawi says he hopes to see lower interest rates next year

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Updated: Jul 13, 2022, 07:08 GMT+00:00

LONDON (Reuters) - Britain's finance minister Nadhim Zahawi said on Wednesday he hoped to see inflation abate and interest rates return to lower levels next year as he outlined his plans to tackle the economy in the Conservative Party leadership contest.

British Chancellor of the Exchequer Nadhim Zahawi leaves his home in central London

LONDON (Reuters) – Britain’s finance minister Nadhim Zahawi said on Wednesday he hoped to see inflation abate and interest rates return to lower levels next year as he outlined his plans to tackle the economy in the Conservative Party leadership contest.

“What I’m talking about is bringing forward the income tax cut to next year when I hope to see inflation abate and, of course, interest rates return to levels lower than today,” Zahawi told BBC Radio 4.

(Reporting by Farouq Suleiman; editing by William James)

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