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Martin Lewis writes to Jeremy Hunt with four demands for spring Budget

2024-01-23 00:00:00.0 独立报-英国新闻原网页

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Martin Lewis has urged Jeremy Hunt to fix four financial penalties he says will help improve the budgets of millions of people across the country.

The Money Saving Expert founder has written to the chancellor calling on him to reform child benefits rules penalising single-income families, the ISA scheme punishment hitting young first-time buyers, above inflation phone and broadband price hikes and “real terms cuts” to student living loans”.

His letter to the chancellor comes six weeks ahead of the spring Budget, where the government will set out its spending priorities for the months ahead.

Mr Hunt and Rishi Sunak, the prime minister, have over the past few days floated several changes to policy that could be included in the Budget, including tax cuts, and changes to child benefits and mortgages.

“I hope he listens and we see change in the budget [sic]. He can’t now say he wasn’t told” Mr Lewis wrote in his letter. He said he would also be sending a letter to Rachel Reeves, Labour’s shadow chancellor.

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In an interview with Mr Lewis on his Money Show Live earlier this month, Mr Hunt admitted that there was an “unfairness” in the child benefit system, meaning some families get less support or none at all because of “overcomplicated” tax rules.

File photo: Martin Lewis makes four demands for spring Budget

" srcset="https://static.independent.co.uk/2023/12/06/08/1YOx95xD-720.jpg?quality=75&width=320&auto=webp 320w, https://static.independent.co.uk/2023/12/06/08/1YOx95xD-720.jpg?quality=75&width=640&auto=webp 640w" src="https://static.independent.co.uk/2023/12/06/08/1YOx95xD-720.jpg" data-gallery-length="3" class="i-amphtml-fill-content i-amphtml-replaced-content">

File photo: Martin Lewis makes four demands for spring Budget

(Martin Lewis Money Show/ITV)

The current “grossly unfair” rules mean that anyone earning more than ￡50,000 is required to pay some of their child benefit back but a couple with a combined income of ￡100,000 would get the full payment. Meanwhile a single-parent family earning ￡60,000 a year wouldn’t get any, nor would a two-parent family with one earner getting ￡60,000 and over.

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