Spring Budget 24: Chancellor cuts NI by another 2p

The latest reduction follows the initial 2p reduction for 27 million workers in the 2023 Autumn Statement. Hunt said the main rate of NI would call from 10% to 8%, meaning the average worker would save about £450 a year. For self-employed workers, it will fall from 8% to 6% equating to a saving of about £350 a year. He said the changes would "make our system simpler and fairer". Hunt added the long-term aim of the Conservatives was to further reduce NI. "The way we tax people's income is particularly unfair. Our long-term ambition is to end this unfairness. "We will continue ...