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BBCNEWS World July 2, 2024

chancellor of the exchequerjeremy hunt has described his autumn budget statement. 27 million workers will see their main national insurance contributions cut from 12% to 10% from january. and a tax break for companies that invest in new equipment will be made permanent, which mr hunt claims is the biggest business tax cut in modern history . also announced the news that from april, universal credit and disability benefits will go up by 6.7 percent. but those on welfare will have to take a work placement within 18 months or risk losing their benefits. the state pension will go up by 8.5% to 221 pounds 20 a week. the minimum wage for those aged 21 and older will go up to 11 pounds 44 an hour. pouring some cold water on all this however, a report out from the uk s independent spending watchdog, the office for budget responsibility. it warns that despite the new cuts, overall tax as a percentage of national income will soon be the highest since the second world war. here s ....

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BBCNEWS Newsnight July 2, 2024

the chancellor says we ve turned a corner, but is the uk now in a cul de sac? i now call the chancellor to make the autumn statement, jeremy hunt. jeremy hunt trumpets a two percentage point cut in national insurance, and an almost 2% rise in the living wage, but the uk tax burden is still the heaviest since world war ii, and growth forecasts are down, so will the cost of living crisis still be a cost of living crisis next year and the year after? nick s been out gauging reaction injeremy hunt s patch. ijust i just worry that this is a government that is running out of good ideas. government that is running out of good ideas- government that is running out of aood ideas. , ., ., , , good ideas. they are doing the best the can good ideas. they are doing the best they can under good ideas. they are doing the best they can under the good ideas. they are doing the best they can under the circumstances. l they can under the circumstances. they they can under the circu ....

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