Squeezed families say Rishi's National Insurance and fuel duty handout will do little to ease cost of living crisis
Under pressure to deliver for the hardest hit by soaring energy costs and a looming tax hike, the Chancellor used his annual Spring Statement to announce a £15billion package of tax cuts.
And in a significant declaration of intent, he made a dramatic pledge to cut the basic rate of income tax by a penny in the pound in 2024 – adding that he ultimately hoped to 'go further'. But she said the earlier the cut in the basic rate of income tax – currently scheduled for 2024 – came in 'the better' as so many people were struggling with rising costs.
'We are worried about how we will make the money back because we're self-employed,' said Miss Smith, who makes colourful jewellery which she sells via her business iamrachel.'I don't want to put my product prices up as customers are barely spending at the moment anyway and I don't want to rip anyone off.'However, material costs are increasing for me as well as daily living costs.
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