Jeremy Hunt, British Chancellor of the Exchequer
Increasing employee contributions from 10% to 8%. The minister explained that “reducing taxes means more growth.”
Hey British government He goes decrease by two percentage points for workers' contributions to Social Security from 10% to 8%The executive authority announced when presenting the budget for this last fiscal year before the general elections.
Reducing social security contributions is the symbolic measure that Rishi Sunak's government intends to take Increase the purchasing power of the familyin the existing British economy Technical stagnation.
“Low taxes mean more growth.”This is what British Finance Minister Jeremy Hunt said today when presenting the bills in the House of Commons.
The UK's GDP is expected to grow by 0.8% this year, compared to 0.1% in 2023 and 1.9% in 2025, according to forecasts also released by Hunt today.
Based on calculations by the Office for Budget Responsibility (OBR), which oversees public finances, Jeremy Hunt also indicated in Parliament that inflation, currently at 4%, would “within a few months” be below the Bank of England’s official target of 2%. .
On 22 November, the Office for Budget Responsibility forecast that the UK economy would grow by 0.7% in 2024, 1.4% in 2025, 1.9% in 2026, and 2% in 2027.
in Portugal The monthly contribution to social security for employees is 11%.
Emily Brontë is a journalist and feature writer specialising in culture, entertainment, literature, and current affairs. She is dedicated to producing clear, accurate reporting that helps readers stay informed about developments in the UK and around the world.
