Spring Budget 2024 Live: British ISA, NI cuts, higher taxes on business class fliers and child benefit tax changes

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Despite the government's parlous fiscal position, with debt at its highest level since the 1960s, Jeremy Hunt is all but certain to unveil tax cuts.
Despite the government's parlous fiscal position, with debt at its highest level since the 1960s, Jeremy Hunt is all but certain to unveil tax cuts.

Jeremy Hunt has delivered his Spring Budget today and unveiled a range of spending promises, tax hikes and cuts to help stimulate growth in the economy.

One of the biggest announcements was the introduction of a British ISA to help revive London’s flagging equity market.

Hunt also announced a cut in National Insurance from 10 per cent to 8 per cent – a cut widely reported before the budget.

Other changes included the abolition of the non-dom tax regime and an increase in Air Passenger Duty for non-economy class fliers.

Chancellor Jeremy Hunt has announced reforms to the “unfair” High Income Child Benefit Charge, which will see the levy assessed on a household basis starting in 2026.