Chancellor of the Exchequer, Jeremy Hunt (pictured), delivered his Spring Budget speech in the House of Commons on Wednesday 6 March. Below is a summary of the key announcements that could affect employers’ pay, pensions and benefits strategies:
- Spring Budget 2024: National insurance contribution (NIC) rate cut to 8%
- Spring Budget 2024: DC pensions required to disclose investment in UK equities
- Spring Budget 2024: TPR and FCA given powers to enforce Value for Money framework
- Spring Budget 2024: Government maintains fuel duty freeze for 12 months