2 Percent cut in National Insurance payments

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freddo
Posts: 2117
Joined: 28 Oct 2019 08:06
Location: Dona Pepa

2 Percent cut in National Insurance payments

Post: # 47229Post freddo »

The manifesto pledges another national insurance (NI) cut, which would be the third since last autumn. The Conservatives are promising to reduce employee NI from the current 8 per cent to 6 per cent by April 2027, and to abolish self-employed NI. The manifesto also reiterates the party’s “ambition” to fully abolish NI “when financial conditions allow”.

Employee NI stood at 12 per cent until last year, but chancellor Jeremy Hunt cut it by 2 percentage points each in his latest Autumn Statement and Spring Budget. Self-employed NI was reduced from 9 per cent to the current 6 per cent. A further 2 percentage points NI cut would save £349 a year to employees earning £30,000, and £754 to those on a salary of £55,000 or above.
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Brandyboy
Posts: 2097
Joined: 28 Oct 2019 14:00

Re: 2 Percent cut in National Insurance payments

Post: # 47230Post Brandyboy »

Doesn't concern those who live here or who's running the shop. They're both as bad as each other.
crummy
Posts: 503
Joined: 29 Oct 2019 17:12

Re: 2 Percent cut in National Insurance payments

Post: # 47231Post crummy »

freddo wrote: 11 Jun 2024 15:04 The manifesto pledges another national insurance (NI) cut, which would be the third since last autumn. The Conservatives are promising to reduce employee NI from the current 8 per cent to 6 per cent by April 2027, and to abolish self-employed NI. The manifesto also reiterates the party’s “ambition” to fully abolish NI “when financial conditions allow”.

Employee NI stood at 12 per cent until last year, but chancellor Jeremy Hunt cut it by 2 percentage points each in his latest Autumn Statement and Spring Budget. Self-employed NI was reduced from 9 per cent to the current 6 per cent. A further 2 percentage points NI cut would save £349 a year to employees earning £30,000, and £754 to those on a salary of £55,000 or above.
So thats 6 pounds odd a week for thoses on 30,000. Pounds a year.
Gosh, there will be a rush to buy villas in Spain.

:D
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Brandyboy
You are not just judged by the company you keep, but the company you keep away from.

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