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Daily Express
|March 07, 2024
Inflation will finally drop below 2% with UK to 'turn corner on growth'
JEREMY Hunt is turbocharging the economy by putting more cash in people's pockets to win back voters ahead of the election.
He cut 2p off national insurance, vowed to scrap the tax and said inflation would drop under 2% as the UK "turned a corner".
There was a child benefit boost plus a freeze on fuel and alcohol duties in what is expected to be the last Budget before the poll. The upbeat Chancellor told the Daily Express that he was confident "better times are ahead" - and he insisted his plan for the economy would provide the "growth the country needs".
Mr Hunt added: "My hope is that the doom and gloom of the recent past is now behind us. I truly believe we have turned a corner and that our growth which is forecast to hit 2% next year can go even higher.
"It's much better news for the economy and for Britain." April's 2p off national insurance means the rate will have fallen from 12p in the pound to 8p in months, adding an average £900 to 27 million workers' annual income.
Mr Hunt told the Commons that imposing NI as well income tax is "unfair" and "double taxation", adding: "When it is responsible, when it can be achieved without increasing borrowing and when it can be delivered without compromising highquality public services, we will continue to cut national insurance as we have done today so we truly make work pay."
The intention is to phase out the levy over the course of the next Parliament if the Tories remain in power. Mr Hunt said he was putting the country back on the path to lower taxes - but insisted he will not take risks with the economy.
He told the Express: "People should have confidence that we are taking a responsible approach.
This story is from the March 07, 2024 edition of Daily Express.
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