A cut to national insurance — a levy paid by people who work — costing around £10 billion ($12.7 billion) is likely, according to multiple UK media reports.
But soaring government debt, crumbling public services and a lackluster economy leave the chancellor with very little room for further substantial giveaways.
Christopher Furlong/Getty ImagesOther so-called “unprotected” areas of the national budget, such as social care and the police force, are also at risk.
“That seems unlikely when public services are creaking,” they added.
OBR chair Richard Hughes said in January that the government had provided no detailed breakdown of departmental spending plans beyond March next year, giving only headline figures.
Persons:
Jeremy Hunt, Rishi Sunak’s, Hunt, ”, Laura Kuenssberg, Jeff, Christopher Furlong, “, Richard Hughes, ” Hughes
Organizations:
London CNN —, Bank of England, Treasury, “ Conservatives, ” Hunt’s Conservative Party, Labour Party, Reuters, Office, National Statistics, Local Government Association, House, National Health Service, Capital Economics, ”
Locations:
Ukraine, Birmingham, England