Jeremy Hunt delivers his Budget in the Commons yesterday (Image: PA)
Jeremy Hunt’s Budget included three key points to boost Britain’s economy and also put “clear blue water” between the Tories and Labour, an economist has said.
The Chancellor outlined his package of measures during an hour-long statement in the House of Commons yesterday, including knocking two pence off national insurance.
by Taboola by Taboola
Sponsored Link Sponsored Link
Promoted Links Promoted Links
Ultimate Pet Nutrition
Vet Warns Americans: "If Your Dog Licks Its Paws, Watch This Immediately"Ultimate Pet Nutrition Learn More
Undo
Mr Hunt has faced criticism in some quarters - for example from Tory MP and Brexiteer Sir Jacob Rees-Mogg - who suggested he should have gone further, and accused him of “tinkering”.
Mr Jessop, research fellow at the Institute for Economic Affairs, told Express.co.uk: “I think there were three big positives to take out of it.
“One is that, in a sense, the fact that he has not been too bold means actually has avoided one obvious trap, which is if he had really done a lot, then that might have scared the Bank of England and prevented them from cutting interest rates.
Sponsored
Super C Serum
Super C Serum Learn More
Target Shoppers Say This Drugstore Wrinkle Cream Is Actually Worth It
Undo
by Taboola by Taboola
READ MORE: Putin henchman accuses NATO of planning ‘confrontation’ with Russia
Budget 2024: Jeremy hunt announces announce 2p National Insurance tax cut
More Videos
0 seconds of 43 seconds Volume 90%
Press shift question mark to access a list of keyboard shortcuts Keyboard Shortcuts EnabledDisabled
Shortcuts Open/Close / or ?
Play/Pause SPACE
Increase Volume ↑
Decrease Volume ↓
Seek Forward →
Seek Backward ←
Captions On/Off c
Fullscreen/Exit Fullscreen f
Mute/Unmute m
Decrease Caption Size -
Increase Caption Size + or =
Seek % 0-9
Next Up
Met Office warn of cold and wintery weather to come
01:00
twitter facebook Email Link https://cdn.jwplayer.com/previews/chbYQPSd Copied
Live
00:00
00:43
00:43
More Videos
Close
“Probably the most important thing that can happen over the next few months is that inflation does indeed fall to two percent or lower, and the Bank of England can start cutting interest rates.
“So one sort of lining for not being very bold is that at least we're going get interest rate cuts.”
Mr Jessop continued: “The second point is that I think what he said about public services was very sensible.
“That we should try and do more, with the same amount of money rather than just continuing having a bigger and bigger state.”
Focusing on productivity and investment in the NHS, incorporating modern technology and digitisation was “really positive” and a “good direction to go in”, Mr Jessop stressed.
He added: “There is clear blue water here between him and the and Labour.
“Labour will just spend more money. But I think already here there are clear signs that the Tories spend the same money more wisely.
Rachel Reeves, the Shadow Chancellor (Image: PA)
“And then the third thing, of course, was the cut to national insurance now.
“I know the tax burden is rising overall, but it's a step in the right direction. It has signalled a clear plan to get national insurance down further as the economy recovers and public finances improve.”
As such Mr Hunt had demonstrated that the Tories had a plan where Labour did not, Mr Jessop suggested.
He explained: “You may not like that plan, but at least it’s a direction of travel and it does make sense to rebalance tax away from taxes on work, like national insurance.”
Highlighting Labour’s lack of a plan was a “strong attack”, Mr Jessop argued.
He said: “I heard Jeremy Hunt and then Rachel Reeves on Times Radio this morning and though neither performed brilliantly, at least Jeremy Hunt had a story to tell whereas Rachel Reeves was flailing around.
SUBSCRIBE Invalid email
We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info
Don't miss...
Cutting-edge tech gives UK soldiers 'high probability' of shooting down drones [INSIGHT]
Russian fighter jets left scrabbling to intercept RAF Typhoons over Black Sea [ANALYSIS]
Donald Tusk crisis with Poland in flames as furious farmers trample EU flags [VIDEO]
Prime Minister Rishi Sunak (Image: Getty)
From now until Prime Minister Rishi Sunak opted to call a general election was a “communication war”, Mr Jessop pointed out.
He said: “The Tories need to explain what they're doing more clearly.
“For example, I saw an opinion poll yesterday from YouGov, suggesting that a large majority of people would rather income tax be cut instead of national insurance.
“Now that doesn't really make sense, national insurance is a better tax to cut but they need to explain that better.
“I think they probably pulled all the levers that they can. I know there's a theoretical possibility of another budget before the election, but I think we should put that to one side for now.
“What they need to do now is concentrate on the communication strategy and hope the improving economy helps them with falling inflation, falling interest rates, and pointing out that clear blue water between the Tory plan and Labour’s vagueness.”
Jeremy Hunt today insisted his Budget will make a difference to the scale of the challenges the UK is facing with creaking public services and struggling councils, saying it is part of a "long-term plan".
Labour leader Sir Keir Starmer and Rachel Reeves on the roof of St Paul's Cathedral today (Image: PA)
Trending
Asked on BBC Radio 4's Today programme whether the fiscal announcement has "come even close" to addressing such issues, the Chancellor said: "I believe it has. If you want quick fixes, then I'm not your person.
"If you want a long-term plan to deliver better public services to get more investment into the economy, then I have delivered packages that do that."
DON'T MISS
Powered by
Jeremy Hunt: I've done an enormous amount to help pensioners
166 Comments
POLL: Do you think you will feel better off after Budget? Vote here
268 Comments
Budget winners and losers: great for pubs and parents, bad for MPs' summer holidays
84 Comments
Tory MPs demand more tax cuts to defeat Labour in General Election
111 Comments
National Insurance slashed by 2p in Budget as tax is cut for second consecutive time
1 Comments
Spring Budget 2024: 10 major announcements from Chancellor Jeremy Hunt today
211 Comments
What a Budget 2024 1p National Insurance cut would mean for you
289 Comments
Penniless pensioners ‘forced to sit in the dark and eat dog food' fear Budget ‘clobbering'
2017 Comments
Jeremy Hunt gives hint on abolishing National Insurance - but it could hammer pensioners
141 Comments
Martin Lewis video explainer breaks down Spring Budget's key takeaways
19 Comments
Rishi Sunak has time on his side to save both the economy and Tories before the election
11 Comments
Labour drafts in Remoaner ex-Bank of England chief Mark Carney as a new adviser
109 Comments
Huge boost for Brexit Britain as pound storms ahead of nearly all global currencies
255 Comments
If the idea of a May election is not dead after this Budget then the Tories are finished
77 Comments
Health Insight Journal
New Nеurоpathу Device Leaves Experts Speechless (Works Fast)Health Insight Journal Learn More
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
I hoped Jeremy Hunt would make a decent chancellor - now he's just playing silly buggers
101 Comments
Jeremy Hunt charted in his Budget the Tories' only route to survival, says Leo McKinstry
43 Comments
Jeremy Hunt insists better times are ahead as he promises major tax reform
1166 Comments
Rishi Sunak vows to 'turbocharge' economy by slashing ballooning benefits bill
501 Comments
Jeremy Hunt and 39 Tory MPs could lose their seats due to Budget ‘pensioner stealth tax'
488 Comments
Reform UK's Richard Tice lashes out at Budget: 'Proof you can't polish a turd!'
222 Comments
FavoriteSearches
The New Sierra 1500 Is So Cheap Now (Take A Look)FavoriteSearches
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
Jeremy Hunt: I've done an enormous amount to help pensioners
166 Comments
POLL: Do you think you will feel better off after Budget? Vote here
268 Comments
Budget winners and losers: great for pubs and parents, bad for MPs' summer holidays
84 Comments
Tory MPs demand more tax cuts to defeat Labour in General Election
111 Comments
National Insurance slashed by 2p in Budget as tax is cut for second consecutive time
1 Comments
Spring Budget 2024: 10 major announcements from Chancellor Jeremy Hunt today
211 Comments
Been Verified
Locate Anyone By Entering Their Name {It's Addicting}Been Verified Learn More
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
What a Budget 2024 1p National Insurance cut would mean for you
289 Comments
Penniless pensioners ‘forced to sit in the dark and eat dog food' fear Budget ‘clobbering'
2017 Comments
Jeremy Hunt gives hint on abolishing National Insurance - but it could hammer pensioners
141 Comments
Martin Lewis video explainer breaks down Spring Budget's key takeaways
19 Comments
Rishi Sunak has time on his side to save both the economy and Tories before the election
11 Comments
Labour drafts in Remoaner ex-Bank of England chief Mark Carney as a new adviser
109 Comments
Publishers Clearing House
Huge April Prize Award!Publishers Clearing House Sign Up
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
Huge boost for Brexit Britain as pound storms ahead of nearly all global currencies
255 Comments
If the idea of a May election is not dead after this Budget then the Tories are finished
77 Comments
I hoped Jeremy Hunt would make a decent chancellor - now he's just playing silly buggers
101 Comments
Jeremy Hunt charted in his Budget the Tories' only route to survival, says Leo McKinstry
43 Comments
Jeremy Hunt insists better times are ahead as he promises major tax reform
1166 Comments
Rishi Sunak vows to 'turbocharge' economy by slashing ballooning benefits bill
501 Comments
Jeremy Hunt and 39 Tory MPs could lose their seats due to Budget ‘pensioner stealth tax'
488 Comments
Reform UK's Richard Tice lashes out at Budget: 'Proof you can't polish a turd!'
222 Comments
Jeremy Hunt: I've done an enormous amount to help pensioners
166 Comments
POLL: Do you think you will feel better off after Budget? Vote here
268 Comments
Budget winners and losers: great for pubs and parents, bad for MPs' summer holidays
84 Comments
Tory MPs demand more tax cuts to defeat Labour in General Election
111 Comments
National Insurance slashed by 2p in Budget as tax is cut for second consecutive time
1 Comments
Spring Budget 2024: 10 major announcements from Chancellor Jeremy Hunt today
211 Comments
What a Budget 2024 1p National Insurance cut would mean for you
289 Comments
Famous Mortgage
Coffin Starts To Shake As It Gets Buried, When Priest Opens It He Screams: "God, No!"Famous Mortgage
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
Cinema 1st
Prince William breaks silence following affair rumorsCinema 1st
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
However, speaking in the Commons today, Shadow Chancellor Ms Reeves accused him of delivering an "omnishambles" Budget, saying of the Government: "They're giving with one hand and taking twice as much with the other."
She told MPs: "The stark reality of yesterday's Budget is clear: Taxes rising, living standards falling, growth stalling and yet again making promises they can't deliver.
"The Tories have failed on the economy, they are out of ideas and they are out of time."
Related articles Labour's Rochdale fiasco will give the Tories a glimmer of hope Rishi Sunak is looking for a way to bring Lee Anderson back into the Tories All Rishi Sunak may end up achieving is leading us into Starmergeddon Humiliation for EU member as PM forced to change election slogan over Putin link Keir Starmer torn apart by voter claiming he's put off by one thing