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And a cut in fuel duty was widely welcomed. today i can announce for only the second time in 20 years, fuel duty will be cut. not by one, not even by two, but by 5p per litre. the much bigger demand was to ditch the planned rise in national insurance contributions, in effect a tax increase. the chancellor didn't do that but he did ensure fewer people would be hit. it would have started to affect those earning just under £10,000 per year but by raising the starting point for paying national insurance, more lower paid workers will now be entirely exempt and many more will have a lower overall t...

System. that is why conservative led governments raised the income tax personal allowance from six point —— 6000 £500 in 2010 to the new level of £12,570. but the equivalent threshold in national insurance, which define how much people can earn are still around £3000 less. the prime minister pledged in the 2019 election that we would increase those thresholds. we made a big step towards that goal in my first budget in 2020, increasing the national insurance threshold to £9,500. today, we take the next step. our current plan is to increase the threshold this year by £300. but i'm not g...

Per year before paying income tax or national insurance. and, in his final announcement, the chancellor pledged that before the end of this parliament in 202a, the basic rate of income tax will be cut from 20p to 19p in the pound. but labour accused the government of making the wrong choices, and of failing to grasp the financial pain facing millions of families. the office for budget responsbility — the uk public finances watchdog — says households will see disposable income fall, by the largest amount in a single year since records began more than 60 years ago. here's our political corre...

Good evening and welcome to the bbc news at six. the chancellor, rishi sunak, has set out his plans to address the cost of living crisis, predicted to be the worst in decades. he told mps that fuel duty would be cut by 5p per litre, through to march next year. national insurance payments are set to rise from april 6th, but he said the threshold at which people will have to pay any contribution will be raised by £3,000 from july. that means you'll need to earn at least £12,570 a year before paying any income tax or national insurance. and mr sunak said he intends to cut the basic rate of inco...