Sajid Javid gives 31 million Brits 100 tax cut from April

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SAJID Javid has formally announced 31 million Brits will get a tax cut worth an average of more than 100 later this year.

The move will raise National Insurance Contributions (NICs) from 8,632 to 9,500 on April 5.

Sajid Javid has confirmed new tax cuts for 31 million

It will cut the annual tax bill for the average full-time worker by 104 and by 78 for the average self-employed worker.

The tax giveaway was a central to Boris Johnsons election manifesto.

The Chancellor had hoped to save the formal announcement of the tax cut for his first Budget on March 11.

But he has had to bring forward the announcement to ensure the tax cut can be delivered on time and for the relevant changes to be made to pension and benefit arrangements.

The PM has pledged to raise the threshold to 12,500 by the middle of the decade, handing an overall tax cut of 465 to 31 million workers.

The move, with the threshold raised in phases each year, is expected to cost the Treasury at least 11 billion.

Mr Javid told HOAR: “This government is not even 50 days old but we dont want to wait to deliver on our promises.

“Tomorrow well get Brexit done, and today were cracking on with the tax cuts we promised.

“That means more than 100 extra staying where it should be in the pockets of Sun readers. Well always be on the side of hard working people.

Prime Minister Boris Johnson leaves 10 Downing Street, London, for the House of Commons for Prime Minister's Questions on January 29
Boris Johnson has pledged to raise the threshold to 12,500 by the middle of the decade

 

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