Chancellor Rishi Sunak has confirmed a 5p fuel duty cut, a national insurance threshold rise and other measures in what he says is support for hard working families during the cost of living crisis.
The measures announced by the Chancellor are as follows:
The employment allowance will rise to £5,000 for small businesses from April 2022.
National Insurance threshold raised by £3,000 to £12,570
The Government will be doubling the household support fund to support struggling households. Councils will receive this funding from April 2022.
Households that install heat pumps, insulation and solar panels will pay zero VAT on them.
The basic rate of income tax will be cut from 20p by 19p in the pound by the end of 2024.
