Jeremy Hunt set to cut national insurance by 2p in budget

Pre-election giveaway should save average earner £450 a year but spending cuts may follow

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Jeremy Hunt is set to cut national insurance by 2p in his budget on Wednesday, the Guardian understands, in a move designed to offer voters a pre-election giveaway but which could mean steeper spending cuts after the election.

The UK chancellor is preparing to announce the second major cut to employment taxes in a year, after his decision to cut national insurance rates by 2p at last year’s autumn statement.

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