This bill cuts employee National Insurance contributions from 12% to 10%, self-employed contributions from 9% to 8%, and removes the requirement for self-employed people to pay Class 2 contributions. It affects all 29 million working people in the UK.
A Bill to make provision for and in connection with reducing the main rates of primary Class 1 national insurance contributions and Class 4 national insurance contributions, and removing the requirement to pay Class 2 national insurance contributions.
Status: Act of Parliament
Current House: Unassigned
Stage: Royal Assent
Sponsored by: Jeremy Hunt, Baroness Vere of Norbiton
Introduced: 2023-11-23
Royal Assent: 2023-12-13