A general election. The backdrop a flat lining Economy Millions struggling with the cost of living and polling indicating the Conservative Party is lagging far behind the opposition. Not to mention Financial Markets on edge for anything that might worsen the uks finances. The memory of Prime Minister liz truss s disastrous Tax Cutting Budget no doubt not far from mr hunts mind. So lets remind ourselves what he came up with. The rate of National Insurance paid by employees and the self employed, will be cut again by 2 pence in the pound. That comes on top of an earlier 2p cut mr hunt announced in the autumn. In april, full Child Benefits will be paid to households, where the highest earning parent is getting up to £60,000. The current limit is £50,000. And the non dom tax break for wealthy uk residents whose permanent home is overseas, is to be scrapped raising £2. 7 billion a year for the government. That announcement is highly controversial as it was a key pillar of labour policy.
Vaping and smoking, but the Office For Budget Responsibility warns the government could find it hard to balance the books. Heres our business correspondent, emma simpson. Did you catch any ofjeremy s budget . It was a chance to turn around the fortunes of the Conservative Party. But was it enough . I think its good that the workers are going to get money back in their pockets. But then if you think about the Cost Of Living and how everything is going up, then maybe they could have given a little bit more back. Anything that cuts taxes, i wish he would have done something a bit more for savers, were in a position where were living off savings. I think theyre trying to do it in light of a General Election and probably not really thinking about what the benefit to the country is. The centrepiece of this budget was a £2 billion cut was a 2p in the pound cut to National Insurance, a tax paid by workers. So who are the winners and losers if you include all the changes to tax and thresholds