70% of workers ‘to get effective tax cut’ as Sunak lift’s NI threshold by £3,000

Chancellor Rishi Sunak has said the threshold for paying National Insurance will increase by £3,000 from July.

This is a £6bn tax cut for 13 million people, he says – a cut worth £330 a year.

He is today publishing a new “tax plan”, which will “help families with the cost of living”, “create the conditions for higher growth”, and “share the proceeds of growth fairly”.