This week, the National Insurance Contributions for 27 million working people will be cut from 12 per cent to 10 per cent, including over 2.3 million people across Yorkshire and the Humber. For the average worker earning £35,000 annually, this will mean a tax cut of £450 each year.
Thanks to the tough decisions made by this Government, inflation has now been more than halved, from 10.1 per cent in January to 3.9 per cent in November last year. As such, it is now able to cut taxes for working people, enabling them to keep more cash in their pocket.
The Government will also cut National Insurance for the Self Employed, delivering a total saving of £340 a year, which will come into force later this year.
This week’s tax cut means a typical police officer will receive an annual gain of over £630, a typical junior doctor over £750, and a hard-working family with two earners on average income will be £900 better off each year.
Julian Smith said, “The Prime Minister has always been clear that he will make the tough decisions in the long-term interests of the people of this country.
“He pledged to halve inflation, and he has done so. Now, we can deliver the tax cuts that will ensure 2.3 million people across Yorkshire and the Humber keep more of their hard-earned money.”
