Michael Gove, MP for Surrey Heath, has welcomed a tax cut for 4,090,000 people in the South East saving workers an average of £450 a year.
Having met their target to halve inflation, the Conservative Government are now able to cut taxes.
From 6 January 2024, employee National Insurance contributions will be cut from twelve per cent to ten per cent, delivering a tax cut of £450 for the average worker earning £35,000.
The Conservative Government will also cut National Insurance for the Self Employed, delivering a total average saving of £340 a year which will come into force later this year.
This tax cut means a senior nurse with five years of experience will receive an annual gain of £600; a typical police officer will receive an annual gain of over £630; a typical junior doctor will receive an annual gain of over £750 and a hard-working family with two earners on the average income will be £900 better off a year.
This tax cut is only possible because of the long-term, difficult decisions the Conservative Government took to get inflation falling and strengthen the economy.
Commenting, Michael said:
“This is fantastic news for my constituents. Over 4 million people across the South East will have their taxes cut this month, and this has only been possible thanks to the Conservative Government’s long-term decisions for a stronger economy.”
Commenting, Chancellor of the Exchequer Jeremy Hunt MP said:
“With inflation halved, we’ve turned a corner and are cutting taxes – starting with today’s record cut to National Insurance worth nearly £1,000 for a household.
“From nurses and brickies, to cleaners and butchers, 27 million hard-working Brits will have a little more cash in their pockets.”
