Help for families across Basildon
Saving you £330 per year on average
Basildon Conservatives welcome the Conservative Government’s National Insurance Cut, helping 4 million people across the South-East keep more of their hard-earned money
For too long growth has not been as high as it needs to be, making it harder to pay for public services. The Conservative Government is clear that this should not result in hiking taxes for hardworking families.
That is why Conservatives in Government have repealed the Health and Social Care Levy Act, putting £330 a year back in the pockets of typical workers without compromising the record funding of £39 billion for our NHS and social care. Reversing the levy will mean families are not saddled with further costs to cover public expenditure – helping with the cost of living whilst delivering a health service people can rely on.
Cllr Andrew Baggott, Conservative Leader of Basildon Council, has welcomed the Chancellor’s measures, which set out how families and businesses across Basildon will see their National Insurance contributions reduced by 1.25 per cent, meaning people will keep more of the money they earn each month. Nationally, 28 million workers will be paying less in NI contributions thanks to the cut.
By April 2023, this cut will save the typical worker £330 per year, with an immediate saving of £135 this year.
The Deputy Prime Minister and Secretary of State for Health and Social Care, the Rt Hon Dr Thérèse Coffey MP, confirmed that this reversal would not impact the NHS budget. The Government will maintain the £39 billion funding uplift, helping to cut the Covid-19 backlogs, deliver more doctors’ appointments, and fix social care.
These measures build on the Conservative Government’s further tax cuts – including cutting stamp duty permanently by doubling the nil-rate band to £250,000 (from £125,000), increasing the nil-rate band for first time buyers to £425,000 (from £300,000) and increasing the value of the property which first-time buyers can claim relief to £625,000 from (£500,000).
This is in addition reducing the basic rate of Income Tax by 1 per cent – delivering a tax cut for 31 million workers.
"I welcome the support set out for people across Basildon, including the cut to National Insurance contributions, made possible from today, as well as other measures including cuts to Income Tax and Stamp Duty – all helping families to keep more of their own money." ~ Cllr Andrew Baggott, Leader of Basildon Council
Commenting, Councillor Baggott said: “In the face of rising energy prices and cost of living pressures around the world, it is right that the Conservative Government has come forward with this Growth Plan. I welcome the support set out for people across Basildon, including the cut to National Insurance contributions, made possible from today, as well as other measures including cuts to Income Tax and Stamp Duty – all helping families to keep more of their own money.
“Only the Conservatives can be trusted to cut taxes for working people and grow the economy – delivering more money for our public services while ensuring people keep more of their hard-earned money.”
The Chancellor of the Exchequer, the Rt Hon Dr Kwasi Kwarteng MP, said: "The Growth Plan cuts stamp duty, allows businesses to keep more of their money to invest and cuts income tax and national insurance for millions of workers.
“The reversal of the Levy delivers a tax cut for 28 million people and is worth, on average, £330 every year. It is a tax cut for nearly 1 million businesses.
“This helps people keep more of the money they earn without compromising the record investment in our NHS.”