Jeremy Hunt expected to announce National Insurance cut
As part of the Spring Budget, Jeremy Hunt is set to reveal a two percentage point cut to National Insurance that will come into effect in April.
It’ll see Class 1 NICs cut to 8% – down from 10%.
This change will help 27million workers, meaning that someone earning an average salary of £35,000 will save over £450.
Coupled with the two percentage point cut to the main rate of National Insurance announced in the Autumn Statement, this will be a total saving of £900.
What is the Spring Budget?
Every year, the government gives two major fiscal updates, the Spring Budget and the Autumn Statement.
Tomorrow, Jeremy Hunt is set to outline the financial plan for the rest of the year, including changes like tax hikes, cuts and benefits increases.
With the cost of living continuing to rise for many Brits, households across the nation will be hoping the government can relieve some of the stress with tomorrow’s announcements.
Jeremy Hunt to announce fiscal plans in tomorrow’s Spring Budget
Tomorrow, Jeremy Hunt will give the government’s annual Spring Budget.
Mr Hunt looks set to confirm a 2p cut to National Insurance, effective from April, that will see Brits on £35,000 per year save £450.
Other announcements to expect include a freeze on fuel duty and an increase in tobacco prices.
This post first appeared on thesun.co.uk
