Hard-working Brits to Receive £900 Tax Cut as Chancellor Jeremy Hunt Slashes National Insurance in Budget

£450 Tax Boost and Booze Duty Freeze

In a move that could be the final Budget before the upcoming elections, Chancellor Jeremy Hunt is set to double last year's 2p National Insurance cut, providing an average worker with a saving of £900 annually. Additionally, workers will receive another £450 tax boost, and the duty on alcohol will be frozen until early next year.

Taxes on Alcohol to Remain Frozen

Trending In The News has revealed that taxes on beer, wine, and spirits, which were scheduled to increase in August, will now be frozen until February next year, following a successful campaign. Fuel duty will also be frozen, but smokers will face higher costs, with a packet of cigarettes costing a record £16 and a new tax on vapes.

Labour Policies Criticized and Tax Loopholes Tightened

Jeremy Hunt is expected to critique Labour leader Sir Keir Starmer during his speech, branding him an enemy of business and adopting some of his policies. Additionally, tax loopholes for wealthy "non-doms" will be closed to generate around £3 billion for the Treasury, with a windfall tax on oil and gas companies extended until the end of the decade.

Challenges Ahead for Tory MPs

Despite the tax cuts, the tax burden is projected to increase to 37% of GDP by the end of the decade. The Chancellor will emphasize the need for permanent tax cuts to support families and encourage economic growth, contrasting the Conservative approach with Labour's proposed increase in borrowing.

Criticism and Reactions

Experts have expressed doubts about the impact of the 2p NI cut on the Tories' poll ratings. However, the freeze on alcohol taxes has been welcomed, with Mark Kent from the Scotch Whisky Association highlighting the benefits for the industry, economy, and consumers.