Sunak promises biggest tax cut for 30 years.

[patman post]

Isn't National Insurance also paid by the employer, thereby "taxing" both the employer and employee...?

[srb7677]

If you mean his 4p in the £ reduction, a minimum wage earner working 40 hours for 48 weeks a year gets about £18,000 of which £12,600 is tax free

The difference between 20% and 16% on their taxable income comes to about £4.75 a week.

And that's before his NHS levy scam

Exactly. A rate cut disproportionately benefits those on higher incomes and does little for low earners. Raising thresholds instead does far more for the latter and has been the main area for targeted tax cuts until now. This is a worrying sign of the Tories reverting to type and targetting their help more towards the better off.

Besides which, what is the point of lowering the basic rate whilsy increasing NI. Does not the latter cancel the former out somewhat? How about reducing NI again first?

[johnofgwent]

I have spoken to my socialist friends and expect them to throw this foul bribe back in the face of the Tory Boss Class, but I am a reactionary old git and will accept this bung with sullen grace.



https://www.lbc.co.uk/news/sunak-promises-biggest-tax-cut-for-30-years-as-he-bids-to-overhaul-trusss-lead/

If you mean his 4p in the £ reduction, a minimum wage earner working 40 hours for 48 weeks a year gets about £18,000 of which £12,600 is tax free

The difference between 20% and 16% on their taxable income comes to about £4.75 a week.

And that's before his NHS levy scam 

[Streetwalker]

The man is a chancer borky . This tax cut won't come in until sometime in the next parliament which could be 5 years in the making 
Not much of a bribe if you ask me .  He will no doubt forget about it when the time comes due to unforseen circumstances 

[Borchester]

I have spoken to my socialist friends and expect them to throw this foul bribe back in the face of the Tory Boss Class, but I am a reactionary old git and will accept this bung with sullen grace.



https://www.lbc.co.uk/news/sunak-promises-biggest-tax-cut-for-30-years-as-he-bids-to-overhaul-trusss-lead/