Chancellor Jeremy Hunt has delivered his Spring Budget announcement for 2024, revealing tax cuts and financial promises. National Insurance has been cut by 2p for 27 million workers, fuel duty and alcohol duty have been frozen, and a ban on disposable vapes has been announced.
Tax breaks for second-home owners have been removed.
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Jeremy Hunt Promises Tax Cuts Ahead of Budget AnnouncementJeremy Hunt pledges to provide 'permanent cuts' in tax to support families. The chancellor is expected to announce a 2p reduction to national insurance (NI) and extend the freeze on fuel duty. Other considerations include a new levy on vaping products, help for first time buyers, a tax on air passenger duty for business class travel, and cutting back on departmental spending. Labour criticizes the measures, stating that they won't be enough to undo the economic damage of the past decade.
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Budget 2024: Jeremy Hunt To Cut National Insurance Again In Bid To Avoid Tory WipeoutKevin Schofield is Politics Editor of HuffPost UK.
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