City Preparing for Jeremy Hunt's Budget Announcement with Expected National Insurance Cut

Wednesday, 6 March 2024, 07:31

Jeremy Hunt is set to present a budget potentially including a National Insurance cut, amid hopes for a calmer financial market. City investors are anticipating the impact of tax cuts and economic measures. The potential cut in National Insurance is being closely watched as a key element of Hunt's budget statement.
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City Preparing for Jeremy Hunt's Budget Announcement with Expected National Insurance Cut

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  • Eighteen months on from the mini-budget chaos, City investors are hoping for a calmer day today as Jeremy Hunt prepares to present this year’s major fiscal event.
  • It wouldn’t be so much a rabbit pulled out of a hat as a slightly tatty-looking ferret dragged from a box, labelled ‘rabbit’. An income tax cut has been discussed for well over a year.
  • A National Insurance cut would be far better than nothing, but it would be a scaled-down, less attractive option. Jeremy Hunt would just have to hope it didn’t bite.
  • “Gilt markets have been under pressure for some time, due to the combination of high inflation, increasing interest rates, higher levels of government bond issuance post Covid and the Bank of England selling its gilt holdings back to the market.
  • This has made UK gilts less attractive investments compared to cash and the increased supply has also worked against gilt prices. Continue reading...

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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