Nov 21, 2023
NI and business tax cuts expected in Autumn Statement
The chancellor is expected to announce a cut in National Insurance for millions of workers in his Autumn Statement later on Wednesday. Former home secretary Dame Priti Patel told the BBC: "This is a really pivotal moment."Successive Conservative governments are known for targeted tax cuts that basically put more money into people's pockets. With a general election expected next year, the dance in advance of the speech has included the usual nods and winks, briefings and interviews - with no shortage of speculation about a huge range of potential tax cuts, which the Treasury has done little to dampen down. Ministers now say tax cuts will happen but claim they will be done in a "Responsible" way. In a speech on Monday, the prime minister made repeated references to tax cuts and claimed last Wednesday's drop in inflation appears to have signalled a turning point for the UK's flatlining economy.
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