Andrew Griffith, the Member of Parliament for Arundel & South Downs, has commented on the cut in National Insurance for 27 million people which comes into force tomorrow, saying it was a “sensible decision to take”.
Announced by the Chancellor at the Autumn Statement in the November, 27 million people in the UK saw a cut in their National Insurance from 12% to 10%, worth around £450 for someone on the average salary.
This measure was part of the biggest package of tax cuts to be implemented at a fiscal event since the 1980s, which also included a cut and simplified tax for 2 million self-employed people, an £11 billion cut in business taxes aimed at helping enterprise grow, and an 8.5% boost in the Triple Lock for pensioners.
The UK inflation rate is now 3.9%, more than half of what it was in October 2022, with the independent Bank of England expecting another sharp fall in inflation.
Commenting on the incoming tax cut, Andrew Griffith MP said:
“As a result of the Government’s responsible stewardship of the economy which has halved inflation and is reducing national debt, cutting tax for 27 million people was a sensible decision to take.
I was also delighted to see tax cuts for small businesses, and reforms to help them grow, as we must always support our vibrant high streets and small enterprises which are assets to our communities.”
