Chancellor Jeremy Hunt once lost his cool on radio show after being confronted about his personal wealth

Chancellor Jeremy Hunt, today unveiled his Spring Budget that includes cutting National Insurance contributions and making changes to child benefits. Despite looking calm and collected while delivering his speech today, he's not always been able to keep his cool.

Many will remember the time he saw red after being confronted about his massive personal wealth which made him one of the UK's richest politicians. Back in 2019, Mr Hunt made an appearance on BBC Radio 2's Jeremy Vine show where the host pointed out his status as the "richest man in Cabinet" during a discussion about his business ventures.

At that time, Mr Hunt was part-owner of an Italian vacation home, possessed an office building in London, and had a portfolio of seven rental flats in Southampton. Additionally, he had reportedly earned £14 million from the sale of his shares in the education company Hotcourses in 2017. However, despite his evident wealth, Mr. Hunt did not respond well to Mr Vine's comment.

Mr Vine simply said: "I gather you're the richest member of the Cabinet?" This seemingly innocuous remark triggered Mr Hunt's ire. He retorted: "Hang on. My salary while I was running my business was a lot lower than your salary now." To which Mr Vine replied: "But I am not in Cabinet."

Refusing to let it go, Mr Hunt cautioned the radio host against indulging in "the politics of envy". Mr Vine, slightly puzzled, clarified that he meant it as a "compliment" regarding Mr Hunt's well-known business background. He explained that he was simply pointing out that he was a "business person who made some money," before adding, "I love the way you immediately think that it is critical".

But Mr Hunt insisted: "No you weren't. You brought up that fact which may or may not be true - I have no idea. A lot of people would say if we start labelling people like that in a way which says that kind of thing is not a compliment we are not going to be a successful country."

Perplexed, Mr Vine responded: "I am amazed." Eventually, Mr Hunt relented, acknowledging that if Jeremy "truly meant it as a compliment," he would accept it. However, he expressed scepticism, saying: "Thank you Jeremy for instead of saying I was successful and set up a business and created 200 jobs that you said I was the richest man in the Cabinet.

"And if that was meant as a compliment - which I somehow doubt - then thank you for that very generous compliment." To which Mr Vine replied: "Wow." Mr Hunt, who comes from a privileged background, had previously spoken about his struggles as a young entrepreneur, describing it as a "daily grind to stay alive."

On Wednesday (March 6), Mr Hunt announced that National Insurance contributions for employees are being cut from 10 per cent to 8 per cent from April 6, with self-employed National Insurance being slashed from 8 per cent to 6 per cent.

He also announced the withdrawal of child benefit for two parents each earning £50,000 to get full child benefit, saying that by 2026 it will be calculated by household. In the meantime, he has adjusted the threshold at which child benefit stops.