Stay up to date with notifications from The Independent

Notifications can be managed in browser preferences.

Watch from Downing Street as Jeremy Hunt presents 2024 spring Budget

Oliver Browning
Wednesday 06 March 2024 09:23 EST
Comments

Your support helps us to tell the story

This election is still a dead heat, according to most polls. In a fight with such wafer-thin margins, we need reporters on the ground talking to the people Trump and Harris are courting. Your support allows us to keep sending journalists to the story.

The Independent is trusted by 27 million Americans from across the entire political spectrum every month. Unlike many other quality news outlets, we choose not to lock you out of our reporting and analysis with paywalls. But quality journalism must still be paid for.

Help us keep bring these critical stories to light. Your support makes all the difference.

Watch from Downing Street as Jeremy Hunt announces the Budget on Wednesday 6 March.

The chancellor cut personal taxes to their lowest level for almost 50 years in a highly political statement ahead of this year’s general election.

Mr Hunt confirmed a 2p cut in national insurance for employees and the self-employed as the centrepiece of a Budget which sought to persuade voters to stick with the Conservatives rather than give Sir Keir Starmer the keys to No 10.

He also offered more help with child benefits to parents earning more than £50,000 and cut the top rate of capital gains tax on property sales – arguing that reducing it from 28 per cent to 24 per cent would bring in more money because of increased activity.

But as he insisted that those with the “broadest shoulders” would pay more, he committed to scrapping the non-dom status for wealthy foreigners, putting the £2.7 billion a year raised as a result towards tax cuts.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in