Jeremy Hunt's 2p budget tax cut is not a 'silver bullet' to save the party, warns George Osborne

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Jeremy Hunt announced a pre-election budget in which he cut taxes for millions of people, but he was almost immediately warned by senior Tories that he would not had failed to offer a “miracle solution” to save money. his party.

The chancellor slashed National Insurance by 2p – and signaled his desire to abolish it altogether – in a bid to woo disaffected voters. Combined with a similar cut at the end of last year, Mr Hunt said someone on an average salary of £35,000 would earn £900 a year better.

But in an assessment catastrophically, the highly respected Institute for Fiscal Studies (IFS) said that for every £1 returned to voters by the Chancellor, the decision to freeze tax thresholds would claim £1.30.

In a budget shamelessly designed to please voters in the run-up to the looming general election, Mr Hunt also announced an extra £6 billion for the NHS and reforms to the "unfair" health system. family allowances, which will help 170,000 families. .

Despite headline-grabbing policies – including freezing fuel and alcohol taxes – former chancellor George Osborne said it was not enough to turn around his party, adding: “This is not the miracle solution that will save the fortunes of the Conservative Party. »

Another former chancellor, Lord Lamont, said the measures would not transform "the political climate", while Sunak's arch-critic, Lord Frost, a Tory peer, said cutting NI without changing income tax. “played the violin while Rome burned.”

M. Hunt used a deeply political budget to steal Labor's flagship plans to scrap tax breaks for non-dominants

(UK Parliament/AFP/Getty)

And in a extraordinary gesture, the current Minister of Energy, Andrew B...