Amid lackluster prospects for economic growth, the British government announced it would cut taxes for workers ahead of a general election this year.
It would take the rate for about 27 million employees down to 8 percent, and follows a two percentage point cut announced less than four months ago.
Together, the cuts would save the average employee about 900 pounds ($1,145) a year, Mr. Hunt said.
The rate was also cut for self-employed workers.
“We can now help families not just with temporary cost-of-living support but with permanent cuts in taxation,” Mr. Hunt, the chancellor of the Exchequer, said in Parliament.
Persons:
Jeremy Hunt, Hunt, Mr
Organizations:
National Insurance
Locations:
British, “