2p cut to national insurance already reported and further tax cuts may come as chancellor announces spring budget
Jeremy Hunt has been posing for the traditional budget day photographs outside No 11 with his red box.
There is a long history of governing parties cutting taxes in budgets just before general elections, and new governments (often from the same party) whacking them up again in the first budget after polling day. Jeremy Hunt is obviously in election bribe mode today, but this chart, from the Institute for Fiscal Studies thinktank, which covers fiscal events up to last year’s autumn statement, suggests that what he is doing is not unprecedented. Denis Healey did something similar before the 1979 election, which Labour lost, and Geoffrey Howe before 1983, which the Tories won.
Continue reading… The Guardian Read More 2p cut to national insurance already reported and further tax cuts may come as chancellor announces spring budgetJeremy Hunt has been posing for the traditional budget day photographs outside No 11 with his red box.There is a long history of governing parties cutting taxes in budgets just before general elections, and new governments (often from the same party) whacking them up again in the first budget after polling day. Jeremy Hunt is obviously in election bribe mode today, but this chart, from the Institute for Fiscal Studies thinktank, which covers fiscal events up to last year’s autumn statement, suggests that what he is doing is not unprecedented. Denis Healey did something similar before the 1979 election, which Labour lost, and Geoffrey Howe before 1983, which the Tories won. Continue reading…
