The UK chancellor, Jeremy Hunt, announced national insurance would be cut by 2 percentage points from January. Subscribe to Guardian News on YouTube ► http://bit.ly/guardianwiressub
Hunt told MPs: ‘So today, Mr Speaker, I’m going to cut the main 12 percent rate of employee national insurance’, adding that the cut would mean ‘someone on the average salary of £35,000 will save over £450. For the average nurse, it’s a saving of £520, for the typical police officer, a saving of £630 every single year.’
The shadow chancellor, Rachel Reeves, said the NI cut would ‘not remotely’ compensate for tax increases already imposed by the Tories. Reeves said: ‘The fact, is that taxes will be higher at the next election than they were at the last. This is the legacy of the Conservatives and that, Mr Speaker, is their record’.
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