UK Budget 2024: Jeremy Hunt set to announce tax cuts — live updates

Welcome to POLITICO’s live coverage of Jeremy Hunt’s high-stakes, last-roll-of-the-dice U.K. Spring Budget. 

The big tax and spend statement is a chance for Britain’s top finance minister to spray around goodies and convince voters he’s on their side. We’ll get updates on the U.K.’s public finances, plus a whole host of policy tweaks — with expected cuts to national insurance top of the agenda.

This year’s Budget matters even more than usual — there’s an election coming down the tracks, and Hunt’s Conservative boss, Rishi Sunak, is tanking in the polls. This could very well be the final fiscal event before election day.

So will the chancellor manage to park some tanks on the opposition Labour party’s lawn? Can he keep a restive Tory party hungry for tax cuts happy? How much will public services be squeezed to pay for it all?

The POLITICO team — including our expert colleagues from our Pro Energy and Climate, Financial Services, Tech and Trade teams — have you covered. And hey, we may even have some fiscal fun along the way.

What time is the Budget speech tomorrow?

The whole thing gets underway in the House of Commons at 12:30 p.m. GMT.

Just before that, Rishi Sunak takes on Keir Starmer at prime minister’s questions.

After Hunt wraps up the statement, the real fun starts mid-afternoon as wonks pore over the numbers and try to find holes. The Office for Budget Responsibility watchdog will hold its usual briefing at 2.30 p.m. — and there’ll be plenty of spin and counter-spin on the way.

Our live updates will kick off below from 11 a.m. U.K. time Wednesday.