Chancellor Jeremy Hunt may announce tax cuts for self employed in upcoming Autumn Statement
Jeremy Hunt is considering handing white van men a tax cut next week – as he finally takes the axe to our sky-high levies. The Chancellor is poised to declare that now inflation is falling he can let Brits keep more of their own cash when he delivers his Autumn Statement next Wednesday.
PM hopes tax cuts will boost his political fortunes
The PM hopes that handing out personal tax cuts will deliver a sugar rush that will turn his political fortunes around. A senior government source said: "We can't promise any more – we have got to deliver."
Government aims to reduce tax burden on working families
Speaking on a visit to Milton Keynes yesterday, Mr Hunt said: "It's very important that we find a way to reduce the tax burden on working families. But there are no shortcuts."
Options being considered include cutting Class 4 National Insurance Contributions
One option being considered is cutting Class 4 National Insurance Contributions (NICs) for the self-employed. Currently, plumbers, electricians and other self employed Brits get clobbered with a 9 per cent charge on profits between £12,570 and £50,270. Anything above this incurs a 2 per cent levy.
Government desperate to inject growth into sluggish economy
The government is desperate to inject some growth into the UK's sluggish economy. In another boost to Britain's toiling white van man, the hated 'transit tax' could be frozen. Many Tory MPs are pinning their political hopes at the next election on tax cuts.
Brits living near pylons and electricity substations could receive bill discounts
Brits who live near new pylons and electricity substations could receive up to £10,000 off their bills over a decade under plans being announced by the Chancellor.
