Jeremy 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.
Jeremy Hunt has promised to help families with 'permanent cuts' in tax on the eve of the budget on Wednesday. The chancellor, who is expected to announce a 2p reduction to national insurance (NI) in what could be the last major fiscal event before the next election, said 'lower tax means higher growth'. While he did not confirm what taxes he plans to slash, Sky News understands that a cut to NI is on the cards and the 5p freeze on fuel duty will be extended.
Money: What 2p cut to national insurance means for your pay Mr Hunt is also said to be considering: • A new levy on vaping products• Help for first time buyers, such as 99% mortgages• A tax on air passenger duty for business class travel• Cutting back plans to increase departmental spending to save money Labour said that whatever is announced, it won't be enough to 'undo the economic vandalism of the last decade' - and the tax burden is still set to rise to a record hig
Jeremy Hunt Tax Cuts Budget Announcement National Insurance Fuel Duty Vaping Products First Time Buyers Air Passenger Duty Departmental Spending Labour
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Everything to expect in Chancellor Jeremy Hunt’s Budget: From tax cuts to vape dutyWith the Chancellor is set to announce the Budget on Wednesday, here’s everything to expect based on the predictions so far.
Read more »
Politics latest: Chancellor Jeremy Hunt speaking to Sky News ahead of pre-election budgetThe pre-election budget will be delivered on Wednesday, with the Conservatives hoping to shift the dial as they languish in the polls.
Read more »
Jeremy Hunt is already getting his excuses in before the BudgetThe difficulty is that Hunt has allowed the expectation of a major intervention to take hold
Read more »
MSPs to vote on Scottish government budgetProposals include new tax bands for higher earners and a ''fully funded' council tax freeze.
Read more »
Chancellor Jeremy Hunt plays down chances of tax cuts as he says upcoming Budget will be 'prudent and...Chancellor Jeremy Hunt has played down the chances of tax cuts in the upcoming Budget, saying any changes will be 'prudent and responsible'.
Read more »
Chancellor plays down tax cuts as he says upcoming Budget will make the UK 'a world leader in manufacturing'Chancellor Jeremy Hunt has played down the chances of tax cuts in his upcoming Budget, as he announces plans to transform the UK into a 'world leader in manufacturing'.
Read more »