Workers will pay less in national insurance from 6 April, the Chancellor Jeremy Hunt has announced in today's Spring Budget. Around 29 million workers are set to benefit from the change, which will see contributions cut from 10% to 8% for employed workers and from 9% to 6% for self-employed workers.
Read the full story:
Spring Budget 2024: Workers to pay less national insurance from April – but some will still be worse off due to frozen personal tax thresholds
If you haven't already, join the forum to reply.
We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Spring Budget 2024: Workers to pay less national insurance from April
Options
MSE_Molly_G
Posts: 186 MSE Staff
in Cutting tax
0
Comments
-
Can someone explain to me the figure all the news sources are quoting saying those earning over 60,000 will pay more tax?
I understand fiscal drag, but doesn't that assume your pay goes up?
If you earn the same amount and the thresholds and rates are frozen, you pay the same amount, surely?0 -
I think the hidden assumption is that you receive the average pay rise. Otherwise, you're entirely correct.2
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.9K Work, Benefits & Business
- 598.8K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards