THE Tories have fuelled speculation they are going to hand out a tax giveaway to multimillionaires after announcing March 6 as the date of the spring budget.

Sources close to the Prime Minister Rishi Sunak said he has demanded a “gear shift” on tax, with No10 considering axing inheritance tax altogether in the coming months, according to reports by the Telegraph.

Labour’s shadow financial secretary James Murray accused Mr Sunak of “trying to buy off his backbenchers with an unfunded tax cut for millionaires” while families across Britain struggle with the cost of living.