The Chancelor Jeremy Hunt will deliver the budget today at 12:30pm that is expected to be his final budget before the next General Election.
He is expected to announce a cut to National Insurance for workers by 2p on top of the 2p in last year’s autumn statement reducing the main rate from 10% to 8% which could save an average worker around £450 a year.
The 5p cut to Fuel duty is expected to be extended that was due to run out this month.
Cuts to public service funding is also anticipated from the already bare-bones 1% increase in public spending above inflation to 0.75% above inflation leading to warnings that public sector services could face significant shortfalls in funding for public services including the NHS.
The Chancellor will start the delivery of his budget to parliament at 12:30pm we will bring a round up of all todays budget announcements this afternoon and what I means for Penrith and You.
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