The cost-of-living crisis makes it more important than ever that working families keep more of what they earn. This is why I welcome that we have committed to:
❱ Cut tax for workers by taking another 2p off employee National Insurance so that we will have halved it from 12% at the beginning of this year to 6% by April 2027, a total tax cut of £1,350 for the average worker on £35,000.
❱ Cut taxes to support the self-employed by abolishing the main rate of self-employed National Insurance entirely by the end of the Parliament.
❱ Give working parents 30 hours of free childcare a week from when their child is nine months old to when they start school, saving eligible families an average of £6,900 per year.
❱ End the unfairness in Child Benefit by moving to a household system, so families don’t start losing Child Benefit until their combined income reaches £120,000 – saving the average family which benefits £1,500.
