Sky News understands the chancellor will cut national insurance by two percentage points in tomorrow's budget .It's a move that would impact 27 million people, worth £450 a year for the average person, and comes just months after the rate was slashed from 12% to 10%.
Analysis by the investment platform AJ Bell reveals that cutting the NI rate to 9% would mean an annual saving of £124 for someone on £25,000, all the way up to a saving of £377 for anyone earning more than the £50,270 threshold.A fall to 8% would be worth almost £250 to someone on £25,000, with a maximum saving of £754.
Source: Insurance Report (insurancereport.net)
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