BRITISH finance secretary Rishi Sunak underscored his faith in low taxes on Wednesday (23) ahead of an increase in social security contributions in April that will take the government’s tax take to the highest since the 1950s.

“I firmly believe in lower taxes,” Sunak, widely seen as a possible future prime minister, said in excerpts of a speech he is due to deliver on Thursday (24).

“The most powerful case for the dynamic market economy is that it brings economic freedom and prosperity. And the best expression of that freedom is for all of us to be able to make decisions about how to save, invest or use the money we earn.”

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