The Tory chancellor said the two per cent reduction in the national insurance rate will save someone earning 35,000 more than 450, and that the change would benefit 27 million people.
Workers earning up to 50,000 currently pay 12 per cent in national insurance contributions (NIC), so will now pay 10 per cent. It means somebody on the average salary of 35,000 will save more than 450 a year.
Mr Hunt announced that the state pension will rise by 8.5 per cent from April, in line with the triple-lock commitment) whichever is highest from earnings, inflation or 2.5 per cent). The move will be worth up to 900 a year.
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