Like pp I’m concerned about inflation so Sunak looks better to me, but I’m up for hearing more
Can you explain the mechanism by which you think cutting taxes will increase inflation - when that inflation is caused by higher fuel and food prices due to a) the war limiting supply of fuel and food and b) higher transport costs for imports?
Things that do increase inflation:
Printing too much money will cause inflation, because it weakens the £, increasing the cost of imports. Liz Truss accused Sunak of not balancing this carefully enough. Inflation is world-wide though, so I'm not sure that's fair.
Increasing wages will cause inflation, by increasing how much it costs to produce things. Hard to avoid politically right now. Personal tax cuts like NI actually help the cost of living crisis without pushing up prices. So Liz Truss' proposal could reduce inflation.
Cutting tax can increase demand-driven inflation by making people feel rich and spending more on unnecessary goods on credit. But I don't think that's happening: everyone is cutting spending wherever they can. Current inflation is driven by genuine increased cost of supply, not excessive demand.
What doesn't increase inflation:
Cutting taxes so that people can continue to buy necessities such as food and fuel despite those increasing in cost for reasons completely outside the UK? I can't see how that increases inflation. It just means people can continue to buy what they need, despite cheap fuel from Russia and cheap food from Ukraine no longer being available.
BUT
Cutting taxes does mean less money coming in, so unless we print money (which causes inflation) then we end up borrowing more to fund day-to-day costs (like hospitals and schools etc). And when inflation is high, that debt will cost us increasing amounts. It's certainly a trade-off.
But I do think the link to inflation is wrong - or at least more complex than Sunak is saying.