Budget 2024: Every working person in UK could get hundreds back in their pay packet

Millions of working families across the UK could be in for a big cash boost in the coming weeks. This could mean hundreds of extra pounds in people's pockets this year, giving household finances a big lift.

Chancellor Jeremy Hunt will reveal whether this will happen at the Budget on Wednesday, March 6. This is when the Government shares its plans for spending money, with the Conservatives feeling the heat to announce cuts to win over voters before the general election later this year.

This puts Chancellor Jeremy Hunt in a tough spot. He needs to make sure the numbers add up, and there have been warnings about making tax cuts just for the sake of it, as well as rumours that there could be another cut to National Insurance - the tax paid by working people. This would mean workers get to keep more of the money they earn.

Try MEN Premium now for FREE... just click here to give it a go.

A 2 per cent cut to National Insurance was announced at last year's Autumn Statement and started in January. Millions of people saw extra cash in their bank accounts after getting paid as a result, with the average worker saving around £500 a year.

This means that a further 1 per cent cut could save around another £200. Most people will be happy with tax cuts as they always want more money in their pocket.

It's been reported a lot that Mr Hunt is planning to cut National Insurance by 1 per cent. The Office for Budget Responsibility, which checks on the economy for the Government, is looking at how the economy is doing and will tell Mr Hunt what it thinks on Friday.

They will let him know how much he can cut taxes by. The Chancellor has to be careful because he wants to make voters happy but doesn't want to upset the economy.