Having turned the corner on inflation brought it right down
. The economy is doing much better. And that
means we can start to bring down taxes today's cut
in national insurance by 2%. Means that a typical
family with two earners will be nearlyÂŁ1000 better off
this year. That is really important in the cost
of living crisis where people have been feeling real pressure
on family budgets, but also it rewards work.
It will bring more people into the labor force and
that is good for growing the economy. It's the
start of a process as Chancellor, if I can
afford to go further, I will, I don't
yet know if I can, but we want to
do this because it helps families and it also helps
to grow the economy. And we believe that a
lightly taxed economy will grow faster. And in the
end, that will mean more money for public services
like the NHS.