THERESA May has moved to quash rumours of an early General Election.

Answering a question from a reporter during a press conference in Oslo, the Prime Minister denied that Monday’s Budget was paving the way for a snap vote, saying it would not be in the “national interest”.

The Chancellor’s decision to bring forward an increase in personal tax allowances, giving tax cuts to millions a year earlier than planned sparked speculation that May might be trying to sweeten middle-class voters ahead of a poll.

May, who is in Norway for the Northern Future Forum summit of north-European states, emphatically told journalists that there was no prospect of a vote.

“No. We are not preparing for another general election. That would not be in the national interest,” she said.

The SNP’s depute leader Keith Brown wasn’t convinced: “We have heard this before from the Tory Prime Minister, but people in Scotland now know not to trust a single word she says.”

Meanwhile, Hammond’s Budget has sparked infighting in Labour, after shadow chancellor John McDonnell said he would back the Tory tax cuts.

McDonnell said he would not reverse changes that benefit higher earners because people like head teachers have had a “rough time” in recent years.

Former work and pensions secretary Yvette Cooper tweeted: “People on £90-100k a year will get tax cut worth £860 in April, those on £125k will get £600 – far more than low-paid workers, at a time when child poverty is going up, benefits are being cut, vital council services are being cut, police are badly overstretched. This is wrong. I cannot support it.”

Tottenham MP and former culture minister David Lammy said: “We should not be supporting tax cuts that disproportionately help the wealthy. Tory cuts will benefit rich families 14-times more than the poor according to @resfoundation analysis.”

McDonnell defended his decision. He said: “We are not going to oppose it on the basis it will put more money in people’s pockets.”

The shadow chancellor said Labour would make the top 5% “pay that bit more”.

He added: “We are not going to take funding away from people. Some of these are middle earners, we’re talking about head teachers and people like that who have had a rough time as well as everyone else.”

The personal allowance and the higher rate threshold will rise from April in a move the Chancellor said would mean “a tax cut for 32 million people”.

In Scotland, the Finance Secretary hinted that he wouldn’t be offering tax cuts to high earners in his budget.

The higher tax rate of 41% applies on earnings above £43,430 in 2018-19 north of the Border, compared with the current tax rate of 40% in the rest of the UK for earnings over £46,351, which is set to increase to £50,000 from next year.

Mackay said: “I take some pride in the fact that I have been the Finance Secretary that has ensured we’ve got the fairest income tax system anywhere in the United Kingdom, and for the majority of people they pay less tax and this is the lowest taxed part of the UK.”