UK Chancellor Jeremy Hunt is reportedly considering a tax cut for white van men and other self-employed individuals. The tax cut is expected to be announced in the Autumn Statement next week. The move is aimed at boosting the economy and improving the political fortunes of the Prime Minister. Hunt is set to meet with Rishi Sunak to finalize the details of the tax cut. One option being considered is cutting Class 4 National Insurance Contributions for the self-employed, which currently incurs a 9% charge on profits between £12,570 and £50,270. Critics argue that this tax discourages individuals from working more.

Boost for White Van Man

In addition to the tax cut, there are plans to freeze the 'transit tax', also known as the van benefit charge. This tax was increased by £72 last year due to inflation, but it is expected to be frozen this year. The government's aim is to inject growth into the sluggish economy and support the self-employed. Many Tory MPs see tax cuts as crucial for their political success in the next election. Former Conservative party leader, Iain Duncan Smith, emphasized the importance of reducing taxes.

Further Benefits for Brits

As part of the Chancellor's plans, Brits living near new pylons and electricity substations could receive up to £10,000 off their bills over a decade. This announcement is expected to provide relief to households in these areas.