Budget 2024 live: People still worse off, says Labour, after Hunt cuts National Insurance – BBC News

The chancellor says the Budget will help the average worker – but Labour says he gives with one hand, and takes “even more” with the other.
Budget 2024 live: People still worse off, says Labour, after Hunt cuts National Insurance - BBC News
budget 2024 live people still worse off says labour after hunt cuts national insurance bbc news

“We need a plan for growth,” Rachel Reeves says.

She says there are 700,000 people due to be on sickness benefits, at a “huge cost” to the economy due to the cost of benefits and loss of what they could be contributing.

She says Labour’s plan to address this is to get NHS waiting lists down, introduce more targeted support, reform the apprenticeship levy to give young people skills, invest alongside business in industries like carbon capture, giga factories for electric vehicles and offshore wind.

Reeves says that despite the tax cuts yesterday, families are going to be paying some £870 more. Despite National Insurance being cut again yesterday, income tax rates – and thresholds – were unchanged.

We’ll have more analysis on those figures soon.

Source: bbc.co.uk

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