David Cameron attends Cabinet Meeting on Budget Day
David Cameron smiled as he left 10 Downing Street ahead of today’s Spring Budget.
This afternoon, Jeremy Hunt will announce the Government’s fiscal plans for the year to come.
Mr Hunt is expected to announce a 2p cut to National Insurance in a bid to win over workers ahead of a crucial election year.
‘We’re sticking to the plan’
Jeremy Hunt is just hours away from announcing the Spring Budget.
He has vowed that they will “stick to the plan” as The Chancellor looks set to cut National Insurance.
‘People are getting an increase in their real disposable income’
The Head of the treasury select committee, Harriet Baldwin, has told Times Radio that chancellor Jeremy Hunt will continue the “journey to lower taxes”.
Speaking with Aasmah Mir and Stig Abell she said: “I think what Jeremy Hunt will continue to do today is the journey to lower taxes that he started last November.
“So since January 6, people have been, in work, have been, enjoying £0.02 off their national insurance. That means that for someone on median earnings, it’s £450 a year.
“If he can do that again, that would be, £900 a back in people’s pockets. So I think that will help with the corner that we’ve turned, which is why we are now seeing wages going up faster than inflation. So people are getting an increase in their real disposable income.”
“One of the things that I think is interesting is obviously public spending itself is at record levels, but you’re seeing in some areas that you’re not getting the same amount of productivity from public spending as you did before the pandemic. So I think there’s still work to be done, to get the level of outputs as opposed to the inputs of spending. So it’s exactly the same level.”
Discover more from Today Headline
Subscribe to get the latest posts to your email.