Hunt Set To Cut Taxes in UK Budget With Election Looming.

Jeremy Hunt, the Chancellor of the Exchequer, plans to announce personal tax cuts in the UK budget to boost the Conservative Party's standing with voters ahead of the upcoming general election. He intends to cut 2 percentage points off the national insurance payroll tax, which would benefit the average worker by £900 when combined with a previous cut. Hunt has been considering various revenue-raising measures to fund these tax cuts, including ending non-domiciled tax status and extending a windfall tax on oil and gas companies. While the Tories are trailing in the polls, they believe that campaigning on a major income tax cut would differentiate them from the Labour Party and win back voters. [Extracted from the article]

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