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

Top 3 Places to Invest in the UK...

April 20, 2023

Interest rates won’t be cut until 2026, predicts...

December 11, 2023

UK Business Leaders declare AI as a Force...

July 19, 2023

What does the UK Government’s Energy Relief Scheme...

October 4, 2022

Staff shortages see UK restaurants struggle to cope...

December 5, 2022

Keep Your Pipes From Freezing This Winter with...

December 30, 2023

Barclays faces blow over car finance mis-selling as...

December 18, 2024

Rishi Sunak to meet leaders over energy security...

July 30, 2023

How Faris Abusharif Is Helping to Evolve the...

November 30, 2022

Fintech ‘innovation hubs’ set to launch around the...

March 1, 2023

Top 3 Places to Invest in the UK...

April 20, 2023

Interest rates won’t be cut until 2026, predicts...

December 11, 2023

UK Business Leaders declare AI as a Force...

July 19, 2023

What does the UK Government’s Energy Relief Scheme...

October 4, 2022

Staff shortages see UK restaurants struggle to cope...

December 5, 2022

Keep Your Pipes From Freezing This Winter with...

December 30, 2023

Barclays faces blow over car finance mis-selling as...

December 18, 2024

Rishi Sunak to meet leaders over energy security...

July 30, 2023

How Faris Abusharif Is Helping to Evolve the...

November 30, 2022

Fintech ‘innovation hubs’ set to launch around the...

March 1, 2023

    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

    • The CappThesis Market Strength Indicator: What It’s Telling Us Now

      July 11, 2025
    • Developing a Successful Crypto Exchange Website in 6 Steps

      July 11, 2025
    • Do Companies Invest Enough in Cyber Security?

      July 11, 2025
    • How to send parcels from Poland to the UK in 2025 – Without headaches or hidden costs

      July 11, 2025
    • Jeb Bozarth: From SWAT Commander to Safety Educator

      July 11, 2025
    • The Small Cap ‘Early Warning’ System: Use StockCharts to Time Pullbacks and Protect Profits

      July 11, 2025

    Categories

    • Business (8,454)
    • Investing (2,116)
    • Politics (16,007)
    • Stocks (3,201)
    • 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