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

Future Retirement Success

Business

Hunt set to announce a 2p cut in national insurance

by March 6, 2024
March 6, 2024
Hunt set to announce a 2p cut in national insurance

Jeremy Hunt, the Chancellor, is set to announce a 2p cut in national insurance for 27 million workers in his upcoming spring budget.

This move is aimed at making work more financially rewarding and offering more opportunity and prosperity.

The tax cut, which will come into effect in April, is part of a £10 billion package and will be combined with the existing 2p cut in national insurance announced in the Autumn Statement last November.

Hunt’s decision to cut national insurance rather than income tax was made because it is cheaper and more targeted. Cutting the headline rate of income tax would be significantly more expensive and would also benefit pensioners. Despite this tax cut, taxes are expected to rise to record levels by the end of the decade due to freezes in national insurance and income tax thresholds, which are considered stealth taxes.

The Chancellor’s budget will also include an extension of the fuel duty freeze at a cost of £5 billion and an £800 million plan to improve productivity in the public sector. There are discussions about cutting public spending increases after the next election, which could raise around £5 billion a year, although this would lead to accusations of a return to austerity.

Jeremy Hunt will frame his budget as part of the Conservatives’ long-term plan for growth, emphasizing stability in the economy and the government’s ability to provide permanent tax cuts. He will contrast his approach with that of Labour, accusing them of increasing borrowing to fund additional spending and imposing new rules on businesses. However, Labour’s shadow chancellor, Rachel Reeves, criticized the Conservatives’ economic record over the past decade, labeling it as “economic vandalism.”

Read more:
Hunt set to announce a 2p cut in national insurance

0
FacebookTwitterGoogle +Pinterest
previous post
Hybrid working demand sends IWG revenues to record £3.3bn
next post
February sees Highest UK new car sales reach highest figure in 20 years

You may also like

Looking To Grow Your Online Following? Here’s How...

September 12, 2022

Australian property giant backed by Rupert Murdoch’s News...

September 2, 2024

Utopi enters high-growth phase

July 31, 2023

Benefits of Hiring a Real Estate Tax Consultant

April 1, 2025

Getting to Know You — Dr. Amy MacIntyre,...

October 25, 2022

Silent Discrimination in the Construction Industry

October 5, 2023

MMA Shorts Hayabusa

December 20, 2024

Jobless rate set to rise’ as experts warn...

November 6, 2024

Get It Made launches new fund to champion...

June 6, 2023

Keir Starmer aims to reset Brexit relations with...

August 28, 2024

    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

    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025
    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,568)
    • Stocks (3,136)
    • 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