The main attempts to ease the pressure on household budgets came from the cut to National Insurance which Jeremy Hunt claimed would be worth £900 a year on top of the last cut announced in the Autumn statement.
Top of the Chancellor’s measures to ease personal finances was the cut to National Insurance from by 2p in the pound for employees and the self-employed.
But changes to the threshold of when child benefits can be paid to households changed, rising to £60,000, a recognition of the fiscal drag into different thresholds that he otherwise ignored.
The reform of the High Income Child Benefit Charge to be assessed on a household-basis by April 2026, and immediate support for working families by increasing the threshold to £60,000 and halving the rate at which Child Benefit is repaid – claiming this represents a £1,260 boost on average for around half a million working families.
As part of a wider reform of…
