Hunt to cut National Insurance by 2p in Budget - report

(Sharecast News) - Chancellor Jeremy Hunt will reportedly use his Budget on Wednesday to cut national insurance by a further two percentage points for 27m workers in a move worth £450 on average According to The Times, the chancellor will make national insurance the central measure in his spring Budget after deciding against cutting income tax.

He will say that the tax cut is worth a total of £900 for the average worker when combined with the two percentage point cut that was announced in the autumn statement.

Hunt and Prime Minister Rishi Sunak decided against cutting income tax after the Office for Budget Responsibility significantly downgraded the amount of "fiscal headroom" available for tax cuts or spending commitments.