Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Jeremy Hunt hints further tax cuts may be coming

by January 19, 2024
January 19, 2024
Jeremy Hunt hints further tax cuts may be coming

The Chancellor, Jeremy Hunt, has given strong hints that he wants to cut taxes in the spring Budget.

Mr Hunt said that countries with lower taxes have more “dynamic, faster growing economies”.

In the Autumn Statement, the chancellor cut national insurance for workers by 2% and announced tax relief for businesses.

If inflation falls this year, followed by lower interest rates, Mr Hunt may have headroom for further tax cuts.

Mr Hunt was speaking during his visit to the World Economic Forum, in Davos, Switzerland, where he is hoping to lure more investment to Britain.

He said the “direction of travel” indicates that economies growing faster than the UK, in North America and Asia tend to have lower taxes.

“I believe fundamentally that low-tax economies are more dynamic, more competitive and generate more money for public services like the NHS,” he added.

Mr Hunt did not offer any further detail on the scale of potential future tax cuts, as the government awaits a forecast from the Office for Budget Responsibility.

However, it is widely expected that the chancellor will focus on income tax in the Budget on 6 March.

Currently, the overall tax burden is on course to rise to the highest level for decades as households are pushed into higher income tax brackets as a result of tax thresholds remaining the same levels for more than two years.

Usually tax thresholds rise in line with inflation, the rate at which prices increase, but they have been kept the same since 2021 and will remain frozen until 2028.

Read more:
Jeremy Hunt hints further tax cuts may be coming

0
FacebookTwitterGoogle +Pinterest
previous post
Spotify attacks Apple’s ‘outrageous’ 27% commission
next post
Luxury cars ‘not immune’ as Bentley sees sales fall in 2023

You may also like

Sustainable Ventures invests 12 times more in female-founded...

July 3, 2024

Video Production Mistakes That You Might Want to...

February 22, 2023

Government launches £7m fund to bring digital access...

June 6, 2023

Shopify bans meetings of more than two people

January 6, 2023

Why Do Dogs Get the Zoomies: The Science...

March 21, 2023

Pound sinks to lowest level against dollar since...

September 16, 2022

UK SME cyber threat concerns on the rise...

October 10, 2023

Google fails to block adverts on ‘climate lie’...

January 20, 2023

UK banks pull hundreds more home loan deals...

June 6, 2023

UK business optimism falls as output and new...

November 2, 2022

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Why Transparency and Trust Are Crucial for UK FX Brokers in 2025

      August 7, 2025
    • Smarter Condo Communities Start with Better Finances and Better Software

      August 7, 2025
    • 3 Smart Ways UK Entrepreneurs Can Diversify Their Income

      August 7, 2025
    • “YouTube is future-proofing itself”: leading producer backs AI crackdown to protect creative jobs

      August 7, 2025
    • Horizon victim Lee Castleton sues Post Office and Fujitsu for £4.5m in landmark legal claim

      August 7, 2025
    • Bank of England expected to cut interest rates to 4% amid weakening UK economy

      August 7, 2025

    Categories

    • Business (8,701)
    • Investing (2,179)
    • Politics (16,329)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved