British authorities will reverse the decision to increase national insurance tax by 1.25% from November

The move was one of Liz Truss’ major campaign promises during the race for premier. Funding for health and welfare will now come from general taxation. According to the Ministry of Finance, the decision will save nearly 28 million residents of the kingdom about 330 pounds a year.

Most employees will see a tax cut in their November paychecks, but some will have to wait until December or even January – it depends on how the employer calculates employees’ salaries.

“Taxation has never worked for prosperity,” said Chancellor Kwasi Kwarteng. – To raise living standards for all, we must be uncompromising about the growth of our economy. Tax cuts are crucial to this.”

As a reminder, the national insurance tax increase was introduced to help the NHS recover from the coronavirus pandemic. The levy was expected to generate about 13 billion pounds a year.

Редакция

Мы пишем новости.

Share
Автор
Редакция
Теги: economicstaxesUKuk

Новые статьи

Fall 2025 in Europe: 25 exhibitions worth traveling for

Paris Paul Troubetzkoy. The Sculptor Prince Where: Musée d'OrsayWhen: September 30, 2025 - January 11,…

3 weeks ago

9 movies with a summer mood. Choice of director and screenwriter Evgeny Izrailit

"In the Bright Sun" (1960), René Clement. Sixties, young Alain Delon, bright sunshine, passion, money.…

1 month ago

Alexander Molochnikov is bringing his production of Seagull: True Story to London. We talked to him about the production and more

- Seagull: True Story has just played in New York. Very soon, in the fall,…

1 month ago

Sorrentino, Ozon and Sokurov: Venice Film Festival – Program 2025

Opening the competition this year will be cult Italian director Paolo Sorrentino with his film…

2 months ago

Oysters in Cornwall, street food in Oxfordshire and international cuisine: Britain’s top gastro festivals this summer

National Geographic Traveller (UK) When: July 19 - 20Where: Business Design Centre, LondonDetails and tickets…

2 months ago

Their Manners. British habits: on the culture of behavior in an English pub

Information about British pubs abounds, but if you're new to the UK (or just new…

2 months ago