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## Jeremy Hunt Announces Tax Cuts in Bid to Revive Tory Fortunes

### By Paul Seddon & Becky Morton

### Political reporters

### 6 March 2024

### Updated 1 hour ago

In a bold move to boost the economy and gain support ahead of the upcoming general election, Chancellor Jeremy Hunt has announced significant tax cuts for workers. The implementation of these tax cuts aims to address the UK’s sluggish economic growth and reinvigorate Tory fortunes.

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Hunt’s decision to cut National Insurance by 2p marks a substantial reduction in taxes paid by employees. This move is part of a series of tax reforms introduced by the chancellor, including increases to child benefit salary thresholds and the introduction of a new vaping levy. Additionally, the abolishment of non-dom tax status aims to create a fairer tax system and stimulate economic growth.

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Despite criticism from the Labour party, who labeled the tax cuts as a “con” that would leave many worse off, Hunt defended his decision, emphasizing the benefits to the economy and the fairness of the tax system. The extension of child benefits eligibility and the increased threshold for benefit withdrawal are expected to benefit around 170,000 families, providing much-needed financial support.

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Looking ahead, Hunt expressed his long-term ambition to abolish National Insurance entirely, highlighting the government’s commitment to ongoing tax reforms. The Budget also included provisions for new investment in public services, such as funding for NHS IT systems to enhance efficiency and service delivery.

In conclusion, the Budget announcement reflects the government’s efforts to stimulate economic growth, improve public services, and provide financial relief to workers. As the political landscape evolves leading up to the general election, the impact of these tax cuts and policy reforms will continue to shape the economic outlook and public sentiment in the UK.

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