Hunt risks pensioner backlash with stealth tax raid for NI cuts
1 year ago

Hunt risks pensioner backlash with stealth tax raid for NI cuts

The Telegraph  

Angering heartland voters is not the usual tactic of a Government going to the polls within months. Yet the goodwill this engendered may be squandered as pensioners are missing out on the best of the tax cuts announced at the Budget, just as they did at the Autumn Statement in November. Torsten Bell, chief executive of the Resolution Foundation, says: “The biggest choice Jeremy Hunt made was to cut taxes for younger workers, while allowing taxes to rise for eight million pensioners. This is a staggering reversal of the approach taken by Conservative governments since 2010.” This is because the Chancellor focused his efforts on a cut in employees’ national insurance, a tax on workers’ income. Hunt’s decision to cut this rate by another 2p – on top of the cut which kicked in at the start of this year – gives a £900 boost to the average worker.

Tax Cut Younger Worker  pensioner  raid  pensioners  younger  worker  workers  rise  chancellor  tax  ni  way  taxes  cuts  hunt  backlash  cut  risks  stealth

History of this topic

Hunt attacks Starmer for ‘fake news’ as Chancellor hints another National Insurance tax cut – UK politics live
10 months, 1 week ago

Hunt attacks Starmer for ‘fake news’ as Chancellor hints another National Insurance tax cut – UK politics live

The Independent  

✕ Close Hunt attacks Labour and says he refutes 'myths' the economy is worse under Tories Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The …

Labour's '£2,000 tax bomb for families': Jeremy Hunt warns every household will suffer to fill huge black hole in Keir Starmer's spending plans - as Chancellor says he wants to slash burden for Brits
10 months, 1 week ago

Labour's '£2,000 tax bomb for families': Jeremy Hunt warns every household will suffer to fill huge black hole in Keir Starmer's spending plans - as Chancellor says he wants to slash burden for Brits

Daily Mail  

Jeremy Hunt today delivered a stark warning that Labour in power would mean a tax bomb worth £2,000 for every household. Chancellor Jeremy Hunt released new Treasury analysis of Labour's tax plans, suggesting they will be billions of pounds short of the funding they need to deliver their spending commitments Mr Hunt warned that in contrast if Keir Starmer gets …

Nearly two thirds of pensioners will pay income tax in three years because of stealth raid
10 months, 4 weeks ago

Nearly two thirds of pensioners will pay income tax in three years because of stealth raid

The Telegraph  

Almost two thirds of pensioners will be paying income tax in three years because of Jeremy Hunt’s stealth tax raid, analysis has found. Two years, ago the Chancellor said the level at which a person starts to pay income tax would be frozen at £12,570 until 2027-28 – dragging more people into having to pay the tax every year. At …

Stealth tax freeze threatens income of 1.6 million pensioners
11 months, 3 weeks ago

Stealth tax freeze threatens income of 1.6 million pensioners

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} Almost two million …

John Rentoul answers your spring Budget questions - from national insurance cuts to Tory poll numbers
1 year ago

John Rentoul answers your spring Budget questions - from national insurance cuts to Tory poll numbers

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} The big news, …

Budget 2024: Jeremy Hunt unveils £10bn national insurance cut – but average worker still £400 worse off
1 year ago

Budget 2024: Jeremy Hunt unveils £10bn national insurance cut – but average worker still £400 worse off

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. The chancellor announced a further two percentage point slash to national insurance among a series …

How much money would you save with Jeremy Hunt’s 2p National Insurance cut?
1 year ago

How much money would you save with Jeremy Hunt’s 2p National Insurance cut?

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Jeremy Hunt has unveiled a 2p cut to national insurance …

Britain’s Conservative government announces tax cuts it hopes can lift its ailing election fortunes
1 year ago

Britain’s Conservative government announces tax cuts it hopes can lift its ailing election fortunes

Associated Press  

LONDON — British Treasury chief Jeremy Hunt sought Wednesday to bolster spirits within his Conservative Party with another tax cut for 27 million working people, hoping it can turn the political tide ahead of a general election this year. “We will continue to cut national insurance contributions as we have done today so we truly make work pay,” Hunt said …

Middle classes will still be worse off despite Hunt’s tax cuts, says IFS
1 year ago

Middle classes will still be worse off despite Hunt’s tax cuts, says IFS

The Telegraph  

Middle-class earners will still be paying more tax despite Jeremy Hunt’s £10bn National Insurance cuts, the Institute for Fiscal Studies has said. Anyone earning more than £60,000 faces a bigger tax bill this year because the Chancellor’s stealth income tax raid will cost them more than they will gain from reductions to other taxes on income. A person earning £61,000 …

Jeremy Hunt signals end of National Insurance
1 year ago

Jeremy Hunt signals end of National Insurance

The Telegraph  

There were some positive financial signs, with the Office of Budget Responsibility saying the UK was now out of recession after the economy shrank in the second half of last year. The OBR said personal tax cuts announced last autumn and on Wednesday only reversed around half the total extra tax revenue raised from the freezing of thresholds until 2028. …

Jeremy Hunt could scrap ‘non-dom’ tax status in next week’s Budget
1 year ago

Jeremy Hunt could scrap ‘non-dom’ tax status in next week’s Budget

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. “There are so many other examples where they have taken Labour’s ideas… but let’s see …

Jeremy Hunt eyes ‘national insurance cut and vape tax’ for next week’s Budget
1 year, 1 month ago

Jeremy Hunt eyes ‘national insurance cut and vape tax’ for next week’s Budget

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. open image in gallery The chancellor is considering introducing a levy on vapes But the …

Jeremy Hunt shelves 2p income tax cut
1 year, 1 month ago

Jeremy Hunt shelves 2p income tax cut

The Telegraph  

Jeremy Hunt has shelved plans for a 2p cut to income tax at next month’s Budget as it was revealed the economy has entered a recession. He had also considered reducing National Insurance employee contributions by two percentage points as an alternative. However, the Office for National Statistics announced on Thursday that the economy had contracted 0.3 per cent in …

Labour plans could leave pensioners worse off if other levies are hiked to pay for a cut in income tax or national insurance, leading economist warns
1 year, 2 months ago

Labour plans could leave pensioners worse off if other levies are hiked to pay for a cut in income tax or national insurance, leading economist warns

Daily Mail  

Pensioners could be worse off if Labour hikes other levies to pay for a cut in income tax or national insurance, a leading economist warned yesterday. Paul Johnson, director of the Institute for Fiscal Studies, said he was 'pretty surprised' by reports that Labour was considering pledging tax cuts in its election manifesto. 'But what you can't do given the …

Hunt gives Tory MPs early Christmas present - a hint of tax cuts next year
1 year, 3 months ago

Hunt gives Tory MPs early Christmas present - a hint of tax cuts next year

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} Jeremy Hunt has …

Hunt hints at more tax cuts before next election after ‘making a start’
1 year, 4 months ago

Hunt hints at more tax cuts before next election after ‘making a start’

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “But what we can say is that, now we’ve …

Jeremy Hunt hails biggest tax cuts since Thatcher but IFS says autumn statement ‘not good for growth’
1 year, 4 months ago

Jeremy Hunt hails biggest tax cuts since Thatcher but IFS says autumn statement ‘not good for growth’

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. It came as: Mr Hunt made a £11bn-a-year tax break for firms permanent and cut …

JASON GROVES: The election starts with Jeremy Hunt's Autumn Statement, but the Tories will need to go much further to win
1 year, 4 months ago

JASON GROVES: The election starts with Jeremy Hunt's Autumn Statement, but the Tories will need to go much further to win

Daily Mail  

Jeremy Hunt set the scene for the Tories' election campaign with a mini-Budget designed to show that the party is ready to return to its tax-cutting traditions. Pictured: Rishi Sunak and Jeremy Hunt yesterday Mr Sunak is painfully aware that the Conservatives face an uphill task to persuade voters that they can be trusted again to cut tax Both men …

Hunt’s tax cuts based on ‘implausible’ public spending squeeze – think tanks
1 year, 4 months ago

Hunt’s tax cuts based on ‘implausible’ public spending squeeze – think tanks

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Jeremy Hunt’s tax giveaway is based on “implausible” plans to …

Hunt begins to ease historically high tax burden with eye on Tory election hopes
1 year, 4 months ago

Hunt begins to ease historically high tax burden with eye on Tory election hopes

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Mr Hunt said high employment taxes “disincentivise the hard …

What time is the 2023 Autumn Statement and the predictions for what Jeremy Hunt will unveil?
1 year, 4 months ago

What time is the 2023 Autumn Statement and the predictions for what Jeremy Hunt will unveil?

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Rishi Sunak has done little to dampen expectations that Mr Hunt will unveil tax cuts …

Hunt refuses to rule out shock income tax cut amid warnings of revolt if budget favours rich
1 year, 4 months ago

Hunt refuses to rule out shock income tax cut amid warnings of revolt if budget favours rich

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. A leading Tory advocate of tax cuts, Sir John Redwood, described the possibility of an …

Jeremy Hunt to make last-minute decision on whether to cut income tax as former Home Secretary Suella Braverman urges party to demonstrate to the public that 'we're on their side'
1 year, 4 months ago

Jeremy Hunt to make last-minute decision on whether to cut income tax as former Home Secretary Suella Braverman urges party to demonstrate to the public that 'we're on their side'

Daily Mail  

Jeremy Hunt will make a last-minute decision this week about whether to cut income tax. Mr Hunt has, it is understood, agreed to lower National Insurance for self-employed workers, but a decision about income tax was 'going to the wire' after more positive economic news about the economy this weekend. Mr Hunt has, it is understood, agreed to lower National …

State pension to rise as wages soar but Jeremy Hunt warns tax cuts ‘unlikely’
1 year, 6 months ago

State pension to rise as wages soar but Jeremy Hunt warns tax cuts ‘unlikely’

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. After pay including bonuses grew 8.5 per cent in the three months to July, an …

Average worker would need 400 years to benefit from pensions tax cut – analysis
1 year, 11 months ago

Average worker would need 400 years to benefit from pensions tax cut – analysis

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Workers with average earnings would …

Labour calls on Tory MPs to vote against pensions tax cut
2 years ago

Labour calls on Tory MPs to vote against pensions tax cut

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Jeremy Hunt’s pensions tax shake-up …

Labour promises to reverse Jeremy Hunt’s pensions ‘giveaway for richest 1%’
2 years ago

Labour promises to reverse Jeremy Hunt’s pensions ‘giveaway for richest 1%’

The Independent  

Labour has promised to reverse chancellor Jeremy Hunt’s £1bn pensions tax ”giveaway for the wealthy” if it wins power at the general election expected in 2024. Mr Hunt accused Labour of shifting their pensions allowance position “overnight” – pointing out that shadow health secretary Wes Streeting called for its abolition in September. Wes Streeting said we should get rid of …

Jeremy Hunt’s ‘back to work’ Budget sees pension limits scrapped and free childcare extended
2 years ago

Jeremy Hunt’s ‘back to work’ Budget sees pension limits scrapped and free childcare extended

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Jeremy Hunt unveiled rapidly falling inflation, free childcare for toddlers, and …

Pensions boost for wealthy as Hunt ditches lifetime allowance
2 years ago

Pensions boost for wealthy as Hunt ditches lifetime allowance

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Labour said the chancellor’s decision to unveil generous pensions allowances in the Budget was a …

Budget 2023: Pensions boost as Jeremy Hunt set to raise tax-free cap
2 years ago

Budget 2023: Pensions boost as Jeremy Hunt set to raise tax-free cap

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Jeremy Hunt is understood to …

Jeremy Hunt dampens tax cut hopes as borrowing hits record high
2 years, 2 months ago

Jeremy Hunt dampens tax cut hopes as borrowing hits record high

The Independent  

Chancellor Jeremy Hunt has dampened Tory hopes of tax cuts at his upcoming Budget as the latest government figures show state borrowing hit another record high last month. Mr Hunt vowed to stick with the “tough decisions” needed to balance the books, as the mounting cost of the energy support schemes and soaring debt interest pushed borrowing to a December …

Hunt ushers in new era of high tax, big state Britain
2 years, 4 months ago

Hunt ushers in new era of high tax, big state Britain

The Telegraph  

Mr Johnson said that debt interest, which is expected to stay at around £100bn a year, plus higher spending on health and on benefits, “entirely explains the growth in the size of the state over the period from 2019 to the later years of this decade”. “We want low taxes,” Jeremy Hunt said on Thursday, even as he introduced a …

Tories increase taxes, cut spending as recession looms
2 years, 4 months ago

Tories increase taxes, cut spending as recession looms

The Hindu  

The Rishi Sunak government announced a £55 billion “consolidation” package of tax hikes and spending cuts in an attempt to get Britain’s public finances back on track partly to undo the damage caused by former Prime Minister Liz Truss’s September ‘Mini-Budget’, which had startled markets. The ‘Autumn Statement’, which was a response to the soaring cost of living, high energy …

Autumn Statement: Key tax, bills and pensions announcements from Chancellor Jeremy Hunt
2 years, 4 months ago

Autumn Statement: Key tax, bills and pensions announcements from Chancellor Jeremy Hunt

Daily Mail  

Pensions triple lock remains in place and benefits also rise with inflation Chancellor Jeremy Hunt has announced changes to income tax, inheritance tax, and energy bill support among other measures in today's Autumn Statement. At a glance income tax personal allowance, reduced higher rate threshold, main national insurance thresholds and the inheritance tax thresholds have all been frozen by an …

Autumn Statement 2022 latest: Pension and welfare rises 'the right thing to do', insists minister
2 years, 4 months ago

Autumn Statement 2022 latest: Pension and welfare rises 'the right thing to do', insists minister

The Telegraph  

The Government is tackling Britain's current economic problems "head-on", Jeremy Hunt said on Thursday evening as he defended £25billion of tax rises. Mr Hunt raised the tax burden to its highest level since 1948 through measures in his Autumn Statement, while retaining the state pension triple lock and increasing benefits in line with inflation. The Chancellor reduced the threshold at …

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