Must credit WSJ CEO Council Summit on-screen for duration. Max 90 seconds use. Must not obscure WSJ logo.Chancellor Jeremy Hunt appeared to rule out tax cuts in the near future as he stressed the need to tackle inflation.Mr Hunt, who was interviewed at the Wall Street Journal CEO Council summit, dashed the hopes of some backbench Tory MPs as he signalled the current high-inflation environment was not amenable to cutting taxes.

Must credit WSJ CEO Council Summit on-screen for duration. Max 90 seconds use. Must not obscure WSJ logo.Chancellor Jeremy Hunt appeared to rule out tax cuts in the near future as he stressed the need to tackle inflation.Mr Hunt, who was interviewed at the Wall Street Journal CEO Council summit, dashed the hopes of some backbench Tory MPs as he signalled the current high-inflation environment was not amenable to cutting taxes.