Millions of workers will see £450 extra in pay packet from July

National Insurance will be cut by 2p if Tories win the forthcoming General Election, Rishi Sunak has confirmed. The Conservative Party gvernment cut national insurance by 2p for the second time in the Spring Budget, at an average cost of around £10 billion a year.

Another 2p cut would mean workers are ANOTHER £450 better off following autumn and spring reductions. Back in March, the government said that the two cuts were worth about £900 a year for a worker earning £35,000.

Another 2p cut would mean a fresh £450 boost - adding up to an eye-watering £1,350. Work and Pensions Secretary Mel Stride said ahead of the launch of the policy document on Tuesday that the Conservatives are “not going to stop” cutting taxes.

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“These are big, bold interventions to help the very people that you are referring to,” he told BBC Radio 4’s Today programme. “We are making real progress now on getting taxes down but we are not going to stop there, and what you are going to hear later on with our manifesto today are some very bold moves to further reduce tax.”

-The Prime Minister said in announcing the policy: "We will enable working people to keep more of the money you earn." The manifesto states: "If you vote to stick with the plan, Rishi Sunak and the Conservatives have set out our long-term ambition to abolish National Insurance entirely.

"So we’ll end the unfair double tax on work and support the workers who keep our economy going." The document outlines: "From April 2025, we will increase the personal allowance for pensioners by introducing a new age-related personal allowance.

"This is a tax cut of around £100 for eight million pensioners each year - rising to £725 a year by the end of the Parliament."