HUNT PLOTTING NEW 1P NATIONAL INSURANCE CUT

JEREMY Hunt is considering taking an extra penny off National Insurance in a spring Budget giveaway.

- Sam Lister 

Yesterday he vowed to prioritise tax cuts that boost growth. On the day Labour paraded its credentials with big business, the Chancellor told the Daily Express the Opposition's spending spree plans would lead to a "tax bombshell" for families.

Mr Hunt dismissed economic "pessimists" who talk down Britain and insisted there is "nowhere better to be".

Laying out his priorities ahead of the March Budget, he hinted that NI might be cut further.

Mr Hunt "Chancellors told the Express: don't talk about what they might be considering ahead of Budgets.

"But what I will say is this though, my priority would be taxes that boost growth.

"So, the NI cut we announced in the Autumn Statement is going to put the equivalent of nearly 100,000 people in work. That's going to fill about one in 10 vacancies across the economy.

"It's not just putting money in people's pockets, it's helping businesses to grow because it means they can recruit the staff they need.

"That is the difference between Conservative and Labour. We think that lowering taxes boosts economic growth, whereas Labour think the way to grow more is to spend more."

The Daily Express understands that Mr Hunt is considering cutting another penny off NI. It would cost £5billion - £2billion less than if he cut income tax by a penny.