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National Insurance Cut By 2p As Expected

UK

Chancellor Jeremy Hunt outlining tax changes: "there is a further set of changes I want to make today. The way we tax people’s income is particularly unfair. If you get your income from having a job, you pay two types of tax – National Insurance Contributions and Income Tax. If you get it from other sources you only pay one. This double taxation of work is unfair. The result is a complicated system that penalises work instead of encouraging it."

  • Hunt: "From April 6th, 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%."
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