Cutting National Insurance contributions for 27 million people in January 2024, saving the average worker £450 a year.
From Saturday 6 January 2024, the main rate of National Insurance contributions will be cut from twelve pence to ten pence. This delivers an annual average tax cut of £450 to 27 million workers, rewarding hard work across the country.
- A senior nurse with five years of experience on £42,618 will receive an annual gain of £600.
- An average full-time nurse on £38,900 will receive an annual gain of over £520.
- An average police officer on £44,300 will receive an annual gain of over £630.
- A typical junior doctor on £63,000 will receive an annual gain of over £750.
- A cleaner working night shifts on £21,000 will receive a gain of £170.
- A typical self-employed plumber on £34,400 will receive an annual gain of £410.
- An average teacher on £44,300 will receive an annual gain of over £630.
- A family with two earners on the average earnings of £35,404 will be £900
Later this year, we will abolish an entire class of NICs and cut the rate of the NICs top rate from nine per cent to eight per cent for the self-employed – with an average total saving of around £350 for someone earning £28,000 a year.
Labour refuse to rule out tax rises to fund their £28 billion green spending plan. (GB news 1/12/23)
