The Daily Telegraph describes the plan as a “Thatcherite tax-cutting drive” – a reference to former Prime Minister Margaret Thatcher who favoured reduced income tax rates during her tenure at No 10 in the 1980s. The paper says the current PM has been considering plans to cut National Insurance, raise the 40% income tax threshold and reduce inheritance tax. An image of Mr Sunak with his chancellor, Jeremy Hunt, also makes the front page.