The changes to the National Insurance threshold come into effect today
People across the country may see a boost in their pay packet, starting this month.This move follows on from the controversial 1.25 percentage point increase in April to help pay for health and social care. This rise also came alongside a string of other bill hikes, most noticeably the jump in the energy price gap.The UK Government has previously said this will benefit nearly 30 million working people with a typical employee saving over £330 in the year from July.
Alice Haine, personal finance analyst at investment platform Bestinvest, said a £330 saving:"Won’t stretch far when you realise that only equates to £27.50 a month. "All of this is set against a backdrop of falling real wages where runaway inflation is eroding any pay uplift workers receive, so any saving will quickly be swallowed up."Delve deeper in the NI figures, and the saving made in July on NI is actually not that great if you go back in time a little.
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