The chancellor today announced that the government will raise the threshold for the amount people earn before they pay National Insurance.
“From this July, people will be able to earn £12,570 a year without paying a single penny of income tax or National Insurance,” he said.
“That’s a £6bn personal tax cut for 30 million people across the United Kingdom.
“A tax cut for employees worth over £330 a year.”
He adds: “The largest increase in a basic rate threshold ever, and the largest single personal tax cut in a decade.”
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