- Hunt delivers tax cuts by reducing national insurance rates for a second time
- But income tax rates and thresholds untouched
National insurance rates will be cut again for both the self-employed and employees, chancellor Jeremy Hunt said in today’s Spring Budget.
The latest cut will reduce the Class 1 national insurance rate by 2 percentage points, from 10 per cent to 8 per cent from April. Class 1 is paid by employees with annual earnings between £12,570 and £50,270 and translates into a £754 a year saving for employees who earn £50,270 and above.