Budget 2024: Hunt confirms purchase of nuclear sites and east London homes funding

By Jim Dunton2024-03-06T12:31:00

Source: Parliament TV

Chancellor also raises VAT threshold for small businesses and cuts Capital Gains Tax on domestic property sales

Chancellor Jeremy Hunt has used what is expected to be his final budget before the next general election to cut a range of personal and property taxes – as well as increasing the threshold for VAT.

In a speech to parliament lasting more than an hour he also confirmed that the government had acquired the Wylfa nuclear power station site in Anglesey from Hitachi in a £160m deal. The Japanese industrial giant suspended its plans to construct a new power station at Wylfa in 2019. The deal also includes the purchase of Hitiachi joint venture Horizon Nuclear Power’s Oldbury site in Gloucestershire.

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