Millions of workers set for £450 wage boost within weeks
manchestereveningnews.co.ukMillions of workers across the UK will get a boost to their wages worth hundreds in less than a month. It comes after Chancellor Jeremy Hunt confirmed a further 2p reduction to National Insurance during his Spring Budget.
On average, it means that someone on an average salary of £35,000 could save over £448.60 a year, according to the government.
Meanwhile, those earning £50,000 or more could be getting roughly an extra £750. Mr Hunt confirmed that the National Insurance cut will come into effect from April 6. Read more: Martin Lewis explains who will be better or worse off after National Insurance cut He told the House of Commons when announcing the policy: "From April 6, employees National Insurance will be cut by another 2p, from 10% to 8%.
And self-employed national insurance will be cut from 8% to 6%. "It means an additional £450 a year for the average employee or £350 for someone self-employed." Mr Hunt said the the latest cut was possible due to "the progress we have made bringing down inflation, because of the additional investment that is now flowing into the economy, because we have a plan for better and more efficient public services, and because we have asked those with the broadest shoulders to pay a bit more".
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