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Budget 2024 predictions are quite diverse, ranging from potential vaping taxes to changes in child benefits. Tory Chancellor Jeremy Hunt is expected to share what could be his final Budget before the general election next week.

Hunt is under a lot of pressure from fellow Tories to reduce taxes, but he also has to answer to calls for clarity on public spending, especially with fears of another round of severe austerity cuts looming.

This situation arises after Rishi Sunak’s claim that the economy had “turned a corner” was disproved two weeks ago after it was revealed that Britain had fallen into a recession.

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The Chancellor will present his budget where he will outline the Government’s tax and spending plans at approximately 12. 30pm on March 6.

This article from The Mirror looks at what the Chancellor might announce and what it could mean for you. Next week, before the pre-election Budget, Jeremy Hunt is believed to be considering cutting either National Insurance or Income Tax.

There is considerable pressure on the Chancellor from Tory MPs to cut taxes before the country votes. He has been weighing his options. According to The Times, a 1% cut in employees’ National Insurance could be introduced, carrying a £4. 5 billion annual cost.

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