This announcement comes as the chancellor outlined his autumn budget, which had aims to "raise business investment, get more people into work, reduce inflation".
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The cut to National Insurance, affecting 27 million people, will mean that a worker on the average salary of £35,000 will save on average, £450, the chancellor said.
Mr Hunt said: "we need to recognise that their hard work benefits all of us."
The Chancellor also announced, 5.5 million households are set to receive a rise in benefits - giving " 1.6 million households an average of £800 of support next year”, according to The Chancellor.
The Chancellor’s plans to rise benefits, equates to £470m as Universal Credit is set to be increased by 6.7% - the September inflationary figure.
Mr Hunt further said the government is now set to spend £104bn on cost-of-living measures, averaging £3,700 per household on energy bills.
The Chancellor also said that from April 2024, the State Pension will increase to £221 a week, a weekly increase of £18, equating to £900 more annually.
He added that the Class 2 National Insurance is also going to be abolished – saving the "average self-employed person £192 a year".
Though, the chancellor has tightened government spending for job seekers, saying those who fail to find work after 18 months of "intensive support" will be given mandatory work placements – with those who do not engage with the process for six months, losing their benefits altogether.
He also outlined plans to increase the National Living Wage by 9.8% to £11.44 an hour, with the threshold for this being lowered to include 21-year-olds.
Mr Hunt further announced that £450m has been allocated to local authority housing fund to deliver "2,400 new homes" – this has been of great importance to younger voters in the UK.
The Chancellor announced that the R&D tax for loss-making businesses will be cut from 25% to 19%.
The announcement to state pensions means that the government’s triple-lock formula will remain and be implemented as usual - an increase of 8.4%, which is the largest pension increase by government to date.
Mr Hunt also outlined his plans for less government involvement in banks, as he plans to sell stocks in the NatWest Bank to members of the public over the next 12 months, to “support market conditions”.
However, contrary to his above aim, the Autumn Statement has caused slight hesitation in the markets, after previously today achieving parity with the dollar, the pound fell against both the euro and the dollar – though not significant enough for an impact to be felt.
Other announcements included: "The Brexit Pubs Guarantee", A freeze on Alcohol Duty, investments in AI, increased duty on hand-rolling tobacco by 10%, a pledge of £5m to Imperial College NHS trust to create a “Fleming Centre”, further investment into the energy grid, and £7m to tackle antisemitism.