This bill cuts National Insurance contributions for 29 million workers: employees pay 8% instead of 10%, and self-employed people pay 6% instead of 9%. Changes take effect from 6 April 2024.
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.
Status: Act of Parliament
Current House: Unassigned
Stage: Royal Assent
Sponsored by: Jeremy Hunt, Baroness Vere of Norbiton
Introduced: 2024-03-07
Royal Assent: 2024-03-20