Budget 2024 live: People still worse off, says Labour, after Hunt cuts National Insurance

David Graham

1 year ago

Budget 2024 live: People still worse off, says Labour, after Hunt cuts National Insurance – BBC News

Summary

Chancellor Jeremy Hunt says people on the average wage will be better off, after he cut National Insurance again yesterday
But Labour’s shadow chancellor Rachel Reeves says Hunt gives with one hand, and takes “much more” with the other
Despite the NI cut, Labour says frozen income tax rates and thresholds mean people have lost money overall
The Budget means that, in the upcoming financial year, an average earner will pay £340 less tax
But the Institute for Fiscal Studies says that, overall, households will be worse off at this general election than at the previous one
And the IFS says both the government and Labour are “joining in a conspiracy of silence” about the challenges facing the UK
Our correspondents will answer your questions on the Budget later – email haveyoursay@bbc.co.uk