Chancellor unveils 2p national insurance cut but thinktanks warn next government faces fresh round of austerity
- Jeremy Hunt announces tax cuts for firms and workers
- Autumn statement 2023: key points at a glance
- What it means for people on a range of incomes
Jeremy Hunt sought to blunt the impact of the highest levels of taxation since the second world war with a cut in workers’ national insurance contributions, fuelling speculation about a snap spring general election.
With the Conservatives trailing in opinion polls, the chancellor used a fresh squeeze on public spending to pay for a bigger-than-expected reduction in NICs worth £450 a year to the average employee, coupled with permanent 100% investment breaks for business.
