Jeremy Hunt’s Budget: key points at a glance

Welcome to our key points summary of the Budget. Jeremy Hunt sought to turn around Conservative electoral fortunes today as he placed tax cuts for workers and parents at the heart of his Budget. The tax cut will be paid for through a mix of tax increases elsewhere, on business class airfares, owners of short-term holiday lets, vapes and tobacco. Meanwhile embattled landlords received a boost with news that the higher rate of capital gains tax is to be cut from 28pc to 24pc on residential property. With Mr Hunt’s speech now over, here are the key points: Tax cuts Tax rises Tax perks for holiday lets scrapped Stamp duty raid on multiple purchases Non-doms stung in tax raid Vapes and tobacco to be hit by duties from October 2026 Business class airfares hit with higher duty Oil and gas windfall tax extended Inflation, debt and the economy Mr Hunt said inflation will finally drop below the 2pc target “in just a few months’ time”, according to the latest forecast by the Office for Budget Responsibility.