· Mike Prendergast has welcomed a tax cut for over 3.1 million people in the North West, including tens of thousands across West Lancashire, thanks to the long-term decisions taken by the Conservative Government at the Autumn Statement for Growth.
· From today (6 January 2024) National Insurance Contributions for 27 million working people will be cut from twelve per cent to ten per cent, delivering a tax cut of £450 for the average worker earning £35,000.
· This means people will have more money in their pockets, helping to grow the economy and reward hard work.
Mike Prendergast has welcomed a tax cut for over 3.1 million people in the North West, including tens of thousands across West Lancashire, 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 today (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.
Today’s 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, Mike Prendergast said:
“The Prime Minister made a promise to people across the North West that taxes would be cut when inflation was falling and that is what this Conservative Government is delivering today.
“Over 3.1 million people across the North West, including tens of thousands right here in West Lancashire, will have their taxes cut from today, thanks to the Conservative Government’s long-term decisions for a stronger economy.
“A senior nurse with five years of experience, working at Ormskirk Hospital on £42,618 will receive an annual gain of £600. A police officer, tackling anti-social behaviour across West Lancashire on £44,300 will receive an annual gain of over £630.
“This means people get to keep more of their hard-earned money, ensuring work always pays under a Conservative Government.”
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.”
