Zack Ali met with Chancellor Jeremy Hunt hunt to discuss the cut to National Insurance that comes into effect today.
From today, 27 million working people will receive the largest ever cut to National Insurance, as we deliver on our promise to cut taxes and help grow the economy.
Last year, the Conservative government took the difficult decisions which got the economy back on track and delivered on our pledge to halve inflation. This means that we can now cut taxes in a responsible way, so we have reduced National Insurance from 12 per cent to 10 per cent from Saturday 6 January 2024, meaning 27 million employees will benefit from an average £450 a year. Self-employed people will also benefit by an average £350 a year.
We are taking the long-term decisions to responsibly cut taxes and grow the economy, rewarding hard work and putting more money back in the pockets of families across the country.