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Budget 2024: Jeremy Hunt announces 2p cut in national insurance

Chancellor’s pre-election gambit also includes changing current ‘non-dom’ tax breaks and reducing CGT on property

  • Politics live: latest news and reaction on UK budget
  • Budget: key points at a glance

Jeremy Hunt has announced a 2p national insurance cut in his budget as a pre-election gambit to revive flatlining opinion poll ratings and reboot Britain’s economy from recession.

In what could be the last major economic intervention before voters go to the polls, the chancellor said the government was making progress on its economic priorities and could now help hard-pressed families by permanently lowering certain taxes.

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