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High earners could benefit from tax cuts in the Budget, Sajid Javid hints

Britain's Chancellor of the Exchequer Sajid Javid leaves 11 Downing Street in London on August 13, 2019 (Photo by Tolga AKMEN / AFP)

Sajid Javid has suggested that higher earners could benefit in his first budget as Chancellor.

Mr Javid said he was a “low tax guy” who wanted to simplify an ambiguous tax system.

In an interview with The Times, The Chancellor also said he was looking at various options regarding changes to stamp duty, including the possibility of sellers footing the bill.

When asked about taxes for higher earners, Mr Javid told the paper: "Wait and see for the Budget...

"But it wouldn't be any surprise that I think taxes should be efficient.

"We want to set them at a rate where we are trying to maximise revenue, and that doesn't always mean that you have the highest tax rate possible.

"Generally I want to see lower taxes, but at a level that is going to pay for the public services."

Mr Javid also said the Treasury would consider whether to make changes to the fiscal rules ahead of the Budget - but that he had not yet decided whether to hold it before October 31.

"When we have the budget, I will be thinking about whether we need to make any changes to the fiscal rules.

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"It is obvious to me that when you've got some of the lowest rates on government debt this country has ever seen I wouldn't be doing my job if I wasn't thinking seriously about how do we use [that opportunity]."