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Spring Budget 2024: What it means for people living with cancer

Published: 07 March 2024
The Chancellor of the Exchequer presented his Spring Budget for 2024 to Parliament on Wednesday 6th March. In this blog, we share some of the key announcements, including changes to national insurance and cost of living support measures. 

Sarah Ruane Director of Advocacy at Macmillan

Spring Budget summary

The Spring Budget is when the Chancellor of the Exchequer provides an update to parliament about the state of the UK economy, and the government’s plan for spending for the year. 

The UK Chancellor, Jeremy Hunt, presented his Spring Budget for 2024 on Wednesday 6th March. At Macmillan, we were calling for an urgent package of support for cancer services and a long term fully funded workforce plan for England. 

Here is more information about some of the key points for people living with cancer from the Spring Budget 2024. We will keep this blog updated if and when we have more information. 

Cuts to National Insurance

The National Insurance rate for employees is currently charged at 10% on earnings between £12,571 and £50,271, and 2% on anything above that. From the 6th of April 2024, this will reduce to 8%.  

There will also be a 2p cut to the main rate of self-employed National Insurance bringing this down from 8% to 6%.  

Extension of the Household Support Fund

To help the most vulnerable households with the cost of essentials such as food and utilities, the Government is providing an additional £500 million to extend the Household Support Fund in England from April to September 2024. 

Reduced waits for Disability Benefit Claims

The Government is also providing additional funding to support the processing of disability benefit claims. This funding will increase system capacity to meet higher demand and ensure people get the support they need in a timely manner. 

Through our #PayPIPNow campaign, Macmillan has called on the Government to cut waits for Personal Independence Payment (PIP). Our petition gathered more than 12,000 signatures and over the course of the campaign, average waiting times fell from 20 weeks to 13 weeks.  

However, we know many people living with cancer are still waiting too long for the support they urgently need and are entitled to. Macmillan hope this additional funding will result in shorter waiting times for people with cancer applying for PIP. 

We have more information about benefits and financial support.   

Extending the repayment period for UC Budgeting Advance Loans

People on Universal Credit may take out budgeting advance loans to help with emergency expenses. The government is increasing the repayment period on budgeting advance loans taken out by claimants on Universal Credit from 12 months to 24 months.  

This will apply to new Budgeting Advances taken out from December 2024 and will reduce the monthly repayments on these loans, relieving financial pressure on low-income households on Universal Credit  

We have more information about Universal Credit and other benefits and financial support.   

Support for people with cancer who are worried about money

Help with money 

We know cancer can be tough on your finances. If you’re worried about money, there is support available. We have information about the cost of living crisis, as well as help with money and work.  

You can also speak to a Macmillan Financial Guide. They are available Monday to Friday, 8am to 6pm. To speak to someone: 


Help with how you’re feeling 

Worrying about money can affect your mental health. We’re here for you if you need emotional support.  
Read more about the emotional support that’s available if you’re worried about money

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