Tens of millions of workers will benefit from a 2 per cent cut in National Insurance next year, Jeremy Hunt announced yesterday. Some 27 million workers in public and private sectors will benefit from the £8.7billion a year tax cut, which Mr Hunt suggests will incentivise hard work.
Tens of millions of workers will benefit from a 2 per cent cut in National Insurance next year, Jeremy Hunt announced yesterday. In a giveaway worth £450 a year for the average worker, the Chancellor said he would reduce employee National Insurance from 12 per cent to 10 per cent from January 6. Some 27 million workers in public and private sectors will benefit from the £8.7billion a year tax cut , which Mr Hunt suggests will incentivise hard work.
But it comes against a backdrop of a tax burden that has risen sharply in recent years, and remains on course to reach its highest level since the Second World War, economists warned. The Chancellor said high employment taxes 'disincentivise the hard work we should be encouraging' as he cut National Insurance on earnings between £12,570 and £50,27
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