Reports have emerged today suggesting that Chancellor Jeremy Hunt is planning to announce a further cut to national insurance in his Budget tomorrow, reigniting speculation about the possibility of a general election in May.
The speculation stems from an article initially published in The Times, which suggests that Hunt is considering reducing national insurance by an additional two percentage points for 27 million workers. The move is estimated to be worth around £450 on average per worker.
According to The Times, the Chancellor has focused on national insurance as the key measure in his spring budget, foregoing a cut to income tax.
Discussion Surrounding a Potential Election (Credits: Al Jazeera)
It’s anticipated that Hunt will emphasize that the tax reduction will amount to a total of £900 for the average worker when combined with the two percentage point reduction announced in the autumn statement.
The prospect of a May general election gained traction further when Jonathan Ashworth, shadow paymaster general, made a bet with Sky News presenter Kay Burley, wagering £10 that an election would indeed take place in May.
However, Conservative minister Greg Hands appeared to dismiss the notion of a May general election during an appearance on another show today.
Despite the differing opinions, speculation continues to swirl regarding the potential timing of a general election, fueled by the anticipated budget announcement and political maneuvering.
