Here are all Jeremy Hunt’s headline budget announcements:
- National insurance cut by 2p in April – from 10% to 8%;
- Freeze on alcohol duty extended until February 2025;
- 5p cut to fuel duty to continue for 12 months;
- Abolishment of non-dom status – a Labour idea that will raise £2.7bn a year;
- High Income Child Benefit Charge threshold raised from £50,000 to £60,000;
- Introduction of British ISA, allowing extra £5,000 investments in UK;
- VAT registration threshold for businesses upped from £85,000 to £90,000;
- £1m towards memorial for Muslims who died in two World Wars;
- Repayment period doubled to 24 months for new budgeting advance loans for low-income people;
- £90 charge for obtaining debt relief order abolished;
- Household Support Fund kept at current level for six months;
- £45m for medical charities, including £3m for Cancer Research UK;
- Nearly £6bn for the NHS, including £3.4bn for “outdated” IT systems;
- £75m for violence reduction units and “hotspot policing”;
- £105m over next four years to build 50 special free schools;
- Introduction of excise duty on vaping products and one-off increase in tobacco duty;
- Reduction of higher capital gains tax rate on property from 28% to 24%.