Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Jeremy Hunt announces national insurance cut

by November 22, 2023
November 22, 2023
Jeremy Hunt announces national insurance cut

Jeremy Hunt has announced that he is cutting national insurance for more than 27 million people by two percentage points in a move that will save people more than £450.

The chancellor said that he would reduce the main rate of employee national insurance from 12 per cent on earnings to 10 per cent.

“If we want people to get up early in the morning, to work nights, to go the extra mile, we need to recognise their hard work benefits us all,” he said. The government also cut national insurance for self-employed workers.

Hunt has confirmed that benefits will rise in line with September’s inflation figures by 6.7 per cent, while the state pension will rise by 8.5 per cent.

Faye Church, Senior Chartered Financial Planner, Investec Wealth & Investment: “A cut in National Insurance from 12% to 10% will benefit lower and middle earners giving a much needed boost to take home pay.

“The current system takes 12% of annual earnings between £12,570 and £50,270, so someone earning an average salary of £35,000 would save £350 a year. For someone earning £80,000 a year, they stand to save £754 a year.

“Help for the self-employed by abolishing Class 2 National Insurance Contributions will save £192 per year, and a reduction in Class 4 National Insurance Contributions from 9% to 8% will save around two million self employed £350 from April 2024.”

Read more:
Jeremy Hunt announces national insurance cut

0
FacebookTwitterGoogle +Pinterest
previous post
How can employers avoid problems at staff parties?
next post
Strategic Insights: Enhancing Organisational Competitiveness through Expert Consultation

You may also like

BGF supports UK and Ireland’s growth with £489M...

January 29, 2025

5 Incredible Ways you Can Wear a Hoodie

September 14, 2022

Estate agents believe housing market may soon emerge...

December 14, 2023

MPs to investigate challenges SMEs face when seeking...

July 3, 2023

Beyond Sharm: Egypt’s Hidden Red Sea Gems

February 27, 2025

Business confidence at lowest in 21 months

November 30, 2022

Trump tariffs latest: 90-day pause announced, but China...

April 9, 2025

Flexible office occupancy rates recover to pre-pandemic levels

December 23, 2022

Google faces antitrust trial over ad dominance as...

September 10, 2024

Facebook UK pays £29m corporation tax despite record...

October 7, 2022

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Rubio condemns assassination attempt on Colombian presidential candidate Miguel Uribe

      June 8, 2025
    • Obama WH physician says Biden doc should have performed cognitive test

      June 8, 2025
    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,570)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved