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HomePoliticsUK PoliticsBudget 2024 live: Hunt delivering Budget with National Insurance expected to be...
UK Politics

Budget 2024 live: Hunt delivering Budget with National Insurance expected to be cut by 2p

David Graham
By David Graham
March 6, 2024
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    Budget 2024 live: Hunt delivering Budget with National Insurance expected to be cut by 2p – BBC News

























    BreakingBreaking news

    Summary

    1. Chancellor Jeremy Hunt is delivering his Budget, outlining the government’s tax and spending plans – watch it live by pressing play above
    2. He’s expected to cut National Insurance for workers by another 2p – it also fell by 2p in last year’s Autumn Statement
    3. It would mean the main rate falling from 10% to 8% – which could save the average worker around £450 a year
    4. Some Conservatives want cuts in income tax, or an increase in the thresholds where it’s paid
    5. “The Conservatives promised to fix the nation’s roof,” Labour’s Rachel Reeves says, but instead they are “now burning the house down”
    6. The UK economy fell into recession last year, and overall tax take is approaching a level not seen since the aftermath of World War Two
    7. Hunt begins his statement by saying that, since the Conservatives took office in 2010, unemployment has halved, and absolute poverty has gone down
    8. He acknowledges high interest rates, but says because of the “progress” made, he can introduce “permanent” tax cuts



    www.bbc.co.uk

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