Budget 2024: Jeremy Hunt announces 2p cut in national insurance

Chancellor’s expected pre-election gambit follows identical reduction in autumn statement

Politics live: latest news and reaction on UK budgetBudget: key points at a glance

Jeremy Hunt has announced a 2p national insurance cut in his budget as a pre-election gambit to revive flatlining opinion poll ratings and reboot Britain’s economy from recession.

In what could be the last major economic intervention before voters go to the polls, the chancellor said the government was making progress on its economic priorities and could now help hard-pressed families with permanent cuts in taxation.

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