The Chancellor delivered a Spring Statement today (23 March 2022) which includes:
- National Insurance starting thresholds will rise to £12,570 from July 2022
- fuel duty for petrol and diesel will be cut by 5p per litre
- the basic rate of income tax will also be cut by 1p in the pound in 2024
- an increase to the National Living Wage
- a cut to the Universal Credit taper
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