Mar 5, 2024
Hunt expected to cut National Insurance tax by 2p
Jeremy Hunt is expected to announce a 2p cut to National Insurance when he delivers his Budget on Wednesday. Last week, the chancellor hinted he would use his Budget to cut taxes saying he wanted to "Show a path" towards a lower-tax economy. Cutting National Insurance is cheaper than cutting income tax; however, some Conservative MPs fear it is less well understood by many voters and so is less beneficial politically. They have also argued that the initial cut to National Insurance has not improved the Conservatives' political fortunes - a key consideration with the general election expected this year. Alongside the expected cut to National Insurance, Mr Hunt is set to freeze fuel duty for another year.
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