Jeremy Hunt Vows Prudent and Responsible Tax Cuts in Budget 2024
Chancellor Jeremy Hunt aims to lower taxes in a responsible manner, emphasizing the need for "long-term growth" and prudent fiscal decisions. With pressure to reduce taxes ahead of the upcoming general election, Hunt is considering measures such as a further cut to National Insurance. However, the government's independent economic forecaster has indicated limited scope for tax reductions. The possibility of raising revenue through measures like a new tax on vapes and scrapping non-dom tax status is also being considered.