Nom-dom tax cuts: How will Labour respond to Jeremy Hunt's Spring Budget election play?

Oct 7, 2024
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Jeremy Hunt has announced the rate of National Insurance (NI) will be cut from 10 per cent to 8 per cent in the Spring Budget as the government gears for a rocky general election. The Chancellor unveiled the measure- worth £10bn – as the centrepiece of a pre-election package of measures aimed at winning back waning Tory support, which also saw him scrap the current tax system for so-called non-doms, citing “Nigel Lawson’s… great tax reforming Budget of 1988”. It will be replaced by a residency-based system which will see new arrivals enjoy a more generous regime for the first four years – before transitioning to “pay the same taxes as other UK residents”. However, is the May election looking less likely? Read to find out more ⬇️ https://www.cityam.com/spring-budget-2024-why-a-may-election-is-now-looking-less-likely/ Get more of City A.M. 👇 🌐 http://www.cityam.com X(formerly Twitter): http://twitter.com/CityAM Facebook: http://www.facebook.com/cityam Instagram: http://www.instagram.com/city_am LinkedIn: http://www.linkedin.com/company/cityam #springbudget #jeremyhunt #elections #tax #taxcuts #vapes #uknews #ukeconomy #trendingnews #trending #labour #labourparty #conservative #conservativeparty


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