Jeremy Hunt leaves 11 Downing Street before delivering his Budget (Image: GETTY)
Jeremy Hunt put tax cuts for workers at the centre of his pre-election Budget today.
The Chancellor confirmed a 2p cut in national insurance for employees and the self-employed.
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The change from April will be worth an average of ￡450 for workers and ￡350 for the self-employed.
When combined with a previous reduction which came into effect in January it will be worth ￡900 for 27 million workers and ￡650 for two million self-employed.
Mr Hunt told MPs in the Commons: "That means the average earner in the UK now has the lowest effective personal tax rate since 1975, and one that is lower than in America, France, Germany or any G7 country."
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But the cut to national insurance comes against a backdrop of frozen thresholds which will see more people dragged into tax or higher brackets as their earnings rise.
Mr Hunt had been under pressure from some Tory MPs to slash income tax, which would benefit other groups such as pensioners.
Elsewhere in his Budget, Mr Hunt announced reforms to child benefits which will take around 170,000 families out of paying a tax charge.
He hiked the threshold for VAT registration from ￡85,000 to ￡90,000 from April 1 to help small businesses.
The Chancellor cut the top rate of capital gains tax on property sales from 28% to 24%, arguing that the move will bring in more money because of increased activity.
Other measures included extending freezes in alcohol duty and fuel duty, but a new tax on vapes was announced.
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Mr Hunt committed to scrapping the non-dom status for wealthy foreigners, putting the ￡2.7 billion a year raised as a result towards tax cuts.
He also unveiled a new British ISA to encourage investment in UK companies and boost the City which will give savers an additional ￡5,000 tax-free allowance.
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