Highlights: United Kingdom: the Minister of the Economy presented his budget for the elections. Jérémy Hunt presented, this Wednesday, March 6, a budget in the form of an electoral promise. The presentation of the budget by the Chancellor of the Exchequer, the equivalent of the Minister for the Economy, is one of the most important meetings in the British parliamentary calendar. The United Kingdom has gone through two complicated years, marked by high inflation and the threat of a recession. It is beginning its reconstruction as legislative elections are announced this year.

Jérémy Hunt presented, this Wednesday, March 6, a budget in the form of an electoral promise. The presentation of the budget by the Chancellor of the Exchequer, the equivalent of the Minister of the Economy, is one of…

United Kingdom: the Minister of the Economy presented his budget for the elections

Jérémy Hunt presented, this Wednesday, March 6, a budget in the form of an electoral promise.

The presentation of the budget by the Chancellor of the Exchequer, the equivalent of the Minister for the Economy, is one of the most important meetings in the British parliamentary calendar.

Britain's Chancellor of the Exchequer Jeremy Hunt presents the financial statement and budget report to the House of Commons in London, March 6, 2024. © Maria Unger / Reuters

By: RFI Follow

With our correspondent in London,

Émeline Vin

The

United Kingdom

has gone through two complicated years, marked by high inflation and the threat of a recession.

It is beginning its reconstruction as

legislative elections are announced

this year.

After fourteen years in power, the Conservatives have increased taxation to an unprecedented level.

To once again attract their voters, the Minister of the Economy announced a reduction in employee contributions.

“

When you are an employee, you pay two taxes on what you earn

: income tax and national insurance.
If we want our economy to provide high wages and highly skilled jobs, without depending on immigration, we need a simpler and fairer system.
From April 6, employees' social contributions will drop by two points, from 10 to 8%

,” he declared.

A hand extended to the working classes

Jeremy Hunt also said he would extend the freeze on alcohol and gasoline taxes, an outstretched hand to the working classes.

In return, electronic cigarettes will be taxed more.

The minister also appropriates a promise from the opposing Labor camp.

“

Now let's talk about taxes paid by those who are resident in the UK, but are tax domiciled overseas – the so-called non-domiciled.
While maintaining the attractiveness of the United Kingdom for foreign investors, our government intends to abolish this non-domiciled status

,” he added.

At the end of the presentation, the economic “think tanks” denounced the maintenance at 1% of the increase in the budget dedicated to public services, considered largely insufficient.

United Kingdom: the Minister of the Economy presented his budget for the elections

United Kingdom: the Minister of the Economy presented his budget for the elections

A hand extended to the working classes

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