The Spectator

Portrait of the week: Budgets, by-elections and Big Brother

issue 09 March 2024

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In the Budget, Jeremy Hunt, the Chancellor of the Exchequer, spoke of ‘long-term growth’. He cut National Insurance by 2p in the pound, saving the average worker £450 a year but pensioners nothing. A new ‘British Isa’ would allow an extra £5,000 a year tax-free investment. Tax arrangements for non-doms would be changed. The 28 per cent capital gains tax on property would go down to 24 per cent. Alcohol and fuel duty were frozen for a year; vaping would attract duty. He said the UK was on track to become the world’s next Silicon Valley and second only to Hollywood for film. The NHS would become ‘digitally integrated’ and drones become police first-responders. He announced devolved powers for Surrey and remarked on Sir Keir Starmer’s weight. The Chancellor gave £1 million to building a Muslim war memorial. Royal Mail is raising the price of all stamps again by 10p from April, with first class going up to £1.35.

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