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To ask the Chancellor of the Exchequer, what plans she has to reduce (a) headcount and (a) payroll costs in her Department, in the context of Cabinet Office guidance on this matter.
To ask the Chancellor of the Exchequer, what plans she has to reduce (a) headcount and (a) payroll costs in her Department, in the context of Cabinet Office guidance on this matter.
Spending Review 2025 Phase 2 will set the future budgets for HM Treasury. The Spending Review has not yet concluded, so it is not possible to say what the specific headcount and payroll plans are for the department.
To ask the Chancellor of the Exchequer, what estimate he has made of the (a) number of people who will financially benefit from the National Insurance reduction announced in the Spring Budget 2024 and (b) average (i) financial gain from that reduction and (ii) cumulative financial gain from reductions to...
To ask the Chancellor of the Exchequer, what estimate he has made of the (a) number of people who will financially benefit from the National Insurance reduction announced in the Spring Budget 2024 and (b) average (i) financial gain from that reduction and (ii) cumulative financial gain from reductions to...
The estimated number of people who financially benefited from the National insurance reduction in the Autumn Statement and Spring Budget and the associated financial gain for an average employee on £35,404 can be seen in Table 1 below:
Table 1: gain for an average employee on £35,404 from reductions to National Insurance announced in the Autumn Statement 2023 and Spring Budget 2024
2024 to 2025 tax year impacts | Autumn Statement only | Spring Budget only | Cumulative Spring Budget and Autumn Statement |
Number of people who financially benefitted from the NICs reduction, 1000s | 29,300 | 29,500 | 29,500 |
Gain for average employee with mean employee salary of £35,404 | £457 | £457 | £913 |
The estimated average financial gain among those benefitting from both the Autumn Statement 2023 and Spring Budget 2024 National insurance reduction, by region, can be seen in the Table 2 below:
Table 2: average financial gain and cumulative gain from reductions to National Insurance announced in the Autumn Statement 2023 and Spring Budget 2024, by region
2024 to 2025 tax year impacts by region | Number of gainers, 1000s | Average gain, Spring Budget only | Average cumulative gain, Autumn Statement and Spring Budget |
North East | 1,060 | £316 | £632 |
North West and Merseyside | 3,140 | £321 | £644 |
Yorkshire and the Humber | 2,330 | £313 | £628 |
East Midlands | 2,110 | £322 | £645 |
West Midlands | 2,500 | £322 | £645 |
East of England | 2,830 | £360 | £720 |
London | 4,350 | £381 | £763 |
South East | 4,120 | £369 | £738 |
South West | 2,420 | £327 | £655 |
Northern Ireland | 807 | £308 | £618 |
Scotland | 2,430 | £338 | £677 |
Wales | 1,240 | £320 | £642 |
Total | 29,500 | £341 | £683 |
These are the modelled average impacts rather than the impacts for an average full time employee (on a given salary), for example the £900 gain previously published for the cumulative impacts.
The Autumn Statement 2023 National insurance reduction estimates are based upon the 2019 to 2020 Survey of Personal Incomes, projected in line with economic assumptions consistent with the Office for Budget Responsibilities November 2023 Economic and Fiscal Outlook.
The Spring Budget 2024 National insurance reduction estimates and cumulative estimates of both policies are based upon the 2019 to 2020 Survey of Personal Incomes, projected in line with economic assumptions consistent with the Office for Budget Responsibilities March 2024 Economic and Fiscal Outlook.
To ask the Chancellor of the Exchequer, what estimate he has made of the (a) number of people who financially benefited from the National Insurance reduction announced in the Autumn Statement 2023 and (b) average financial gain from that reduction.
To ask the Chancellor of the Exchequer, what estimate he has made of the (a) number of people who financially benefited from the National Insurance reduction announced in the Autumn Statement 2023 and (b) average financial gain from that reduction.
The estimated number of people who financially benefited from the National insurance reduction in the Autumn Statement and Spring Budget and the associated financial gain for an average employee on £35,404 can be seen in Table 1 below:
Table 1: gain for an average employee on £35,404 from reductions to National Insurance announced in the Autumn Statement 2023 and Spring Budget 2024
2024 to 2025 tax year impacts | Autumn Statement only | Spring Budget only | Cumulative Spring Budget and Autumn Statement |
Number of people who financially benefitted from the NICs reduction, 1000s | 29,300 | 29,500 | 29,500 |
Gain for average employee with mean employee salary of £35,404 | £457 | £457 | £913 |
The estimated average financial gain among those benefitting from both the Autumn Statement 2023 and Spring Budget 2024 National insurance reduction, by region, can be seen in the Table 2 below:
Table 2: average financial gain and cumulative gain from reductions to National Insurance announced in the Autumn Statement 2023 and Spring Budget 2024, by region
2024 to 2025 tax year impacts by region | Number of gainers, 1000s | Average gain, Spring Budget only | Average cumulative gain, Autumn Statement and Spring Budget |
North East | 1,060 | £316 | £632 |
North West and Merseyside | 3,140 | £321 | £644 |
Yorkshire and the Humber | 2,330 | £313 | £628 |
East Midlands | 2,110 | £322 | £645 |
West Midlands | 2,500 | £322 | £645 |
East of England | 2,830 | £360 | £720 |
London | 4,350 | £381 | £763 |
South East | 4,120 | £369 | £738 |
South West | 2,420 | £327 | £655 |
Northern Ireland | 807 | £308 | £618 |
Scotland | 2,430 | £338 | £677 |
Wales | 1,240 | £320 | £642 |
Total | 29,500 | £341 | £683 |
These are the modelled average impacts rather than the impacts for an average full time employee (on a given salary), for example the £900 gain previously published for the cumulative impacts.
The Autumn Statement 2023 National insurance reduction estimates are based upon the 2019 to 2020 Survey of Personal Incomes, projected in line with economic assumptions consistent with the Office for Budget Responsibilities November 2023 Economic and Fiscal Outlook.
The Spring Budget 2024 National insurance reduction estimates and cumulative estimates of both policies are based upon the 2019 to 2020 Survey of Personal Incomes, projected in line with economic assumptions consistent with the Office for Budget Responsibilities March 2024 Economic and Fiscal Outlook.
To ask the Secretary of State for Business and Trade, if she will take steps to enable employees to use salary sacrifice schemes that reduce their cash earnings below National Minimum Wage rates.
To ask the Secretary of State for Business and Trade, if she will take steps to enable employees to use salary sacrifice schemes that reduce their cash earnings below National Minimum Wage rates.
The law prevents employers from reducing pay below the National Minimum Wage through salary sacrifice schemes and pay deductions where this is in some way for the employer's own use and benefit. Such a benefit could derive from a reduction in the employer's National Insurance contributions. This remains the case even if the worker chooses to participate in such a scheme.
The Government is not currently considering changing this legislation. It is important that we continue to prevent exploitation from unscrupulous employers and harm to vulnerable workers. It is the responsibility of all employers to understand and follow these rules.
The National Insurance Contributions (Reduction in Rates) Bill [Bill 12 of 2023-24] was introduced on 23 November 2023.
The National Insurance Contributions (Reduction in Rates) Bill [Bill 12 of 2023-24] was introduced on 23 November 2023.
Allocation of time motion, ordered. Second reading. Agreed to on question. Bill committed to a Committee of the Whole House. Money resolution. King's recommendation signified. Agreed to on question.
Allocation of time motion, ordered. Second reading. Agreed to on question. Bill committed to a Committee of the Whole House. Money resolution. King's recommendation signified. Agreed to on question.
I beg to move, That the Bill be now read a Second time.
This is a landmark moment: the economy has turned a corner. Having rightly supported people through covid with £400 billion of spend and then £100 billion over the winter to support people with energy costs, we on the...
I beg to move, That the Bill be now read a Second time.
This is a landmark moment: the economy has turned a corner. Having rightly supported people through covid with £400 billion of spend and then £100 billion over the winter to support people with energy costs, we on the...
Will the Chief Secretary to the Treasury tell the House, for the record, how many Labour Back Benchers are here for this milestone debate?
Will the Chief Secretary to the Treasury tell the House, for the record, how many Labour Back Benchers are here for this milestone debate?
I think by my count none, which is unfortunate and I think speaks to their lack of the commitment to cutting tax that we have on this side of the House. The Bill will cut taxes for 29 million working people. It has three measures: the reduction in national insurance...
I think by my count none, which is unfortunate and I think speaks to their lack of the commitment to cutting tax that we have on this side of the House. The Bill will cut taxes for 29 million working people. It has three measures: the reduction in national insurance...
I thank the Minister, and the Government, for what they are bringing forward. The cut in national insurance in the autumn statement is a welcome step, and my constituents tell me that. Unfortunately, many are also saying that the average working-class family, including many in my constituency, will still be...
I thank the Minister, and the Government, for what they are bringing forward. The cut in national insurance in the autumn statement is a welcome step, and my constituents tell me that. Unfortunately, many are also saying that the average working-class family, including many in my constituency, will still be...
Whatever the Chancellor said last week and whatever the Chief Secretary to the Treasury said today, the truth is that the Conservatives cannot hide from the facts when it comes to the level of taxation in Britain today. The inescapable truth facing families across the UK, and the truth that...
Whatever the Chancellor said last week and whatever the Chief Secretary to the Treasury said today, the truth is that the Conservatives cannot hide from the facts when it comes to the level of taxation in Britain today. The inescapable truth facing families across the UK, and the truth that...
Does the hon. Gentleman recognise the context in which the autumn statement was made? Was he not a cheerleader for the furlough scheme and the financial support provided during covid and the energy price shock? Does he recognise that that needed to be recovered but, because of the difficult decisions...
Does the hon. Gentleman recognise the context in which the autumn statement was made? Was he not a cheerleader for the furlough scheme and the financial support provided during covid and the energy price shock? Does he recognise that that needed to be recovered but, because of the difficult decisions...
The context in which the autumn statement was made was 13 years of Conservative economic failure. There have been 25 tax rises in this Parliament alone and the tax burden is set to rise to its highest since the second world war. That is the context that the British people...
The context in which the autumn statement was made was 13 years of Conservative economic failure. There have been 25 tax rises in this Parliament alone and the tax burden is set to rise to its highest since the second world war. That is the context that the British people...
Perhaps the answer to the question of the shadow Chief Secretary to the Treasury is that the income tax starting point has doubled from around £6,000 to more than £12,000. That provides the extra £1,000 take-home pay every year that he is puzzled about.
Perhaps the answer to the question of the shadow Chief Secretary to the Treasury is that the income tax starting point has doubled from around £6,000 to more than £12,000. That provides the extra £1,000 take-home pay every year that he is puzzled about.
The hon. Gentleman promoted me inadvertently, as I am the shadow Financial Secretary to the Treasury, but I thank him for his vote of confidence. Our point is that today’s tax cut, which we support, must be seen in the context of 13 years of the Conservatives in power: 13...
The hon. Gentleman promoted me inadvertently, as I am the shadow Financial Secretary to the Treasury, but I thank him for his vote of confidence. Our point is that today’s tax cut, which we support, must be seen in the context of 13 years of the Conservatives in power: 13...
I am not sure that I have ever heard a more grudging shadow Front Bench speech on measures that the Opposition support. They support them so wholeheartedly today that none of their Back Benchers has shown up to speak to them.
I endorse the measures in the legislation. The Chief Secretary...
I am not sure that I have ever heard a more grudging shadow Front Bench speech on measures that the Opposition support. They support them so wholeheartedly today that none of their Back Benchers has shown up to speak to them.
I endorse the measures in the legislation. The Chief Secretary...
We have heard an awful lot about choices at the start of this debate. What is abundantly clear for families in Scotland and across the nations of
the UK is that the Government have chosen to ignore the burning cost of living crisis that they put in place for families.
Let...
We have heard an awful lot about choices at the start of this debate. What is abundantly clear for families in Scotland and across the nations of
the UK is that the Government have chosen to ignore the burning cost of living crisis that they put in place for families.
Let...
It is a pleasure to speak, very briefly, in this debate.
My starting point is the concern I felt, when I listened to my right hon. Friend the Chancellor of the Exchequer making his autumn statement and highlighting this aspect of the measures he was taking, to hear cries of “not...
It is a pleasure to speak, very briefly, in this debate.
My starting point is the concern I felt, when I listened to my right hon. Friend the Chancellor of the Exchequer making his autumn statement and highlighting this aspect of the measures he was taking, to hear cries of “not...
It is a pleasure to join this debate, albeit one attended by literally zero Back Benchers of His Majesty’s loyal Opposition.
This debate and the changes to national insurance raise narrow issues of the amount of tax being paid by our constituents, wider issues relating to the question posed by the...
It is a pleasure to join this debate, albeit one attended by literally zero Back Benchers of His Majesty’s loyal Opposition.
This debate and the changes to national insurance raise narrow issues of the amount of tax being paid by our constituents, wider issues relating to the question posed by the...
I congratulate my hon. Friend the Member for Gloucester (Richard Graham) on his remarks. He provided a lot of sensible context for this debate and I will address some of his helpful points shortly.
It is very unusual to talk about fiscal matters, or fiscal legislation, to an almost empty Chamber....
I congratulate my hon. Friend the Member for Gloucester (Richard Graham) on his remarks. He provided a lot of sensible context for this debate and I will address some of his helpful points shortly.
It is very unusual to talk about fiscal matters, or fiscal legislation, to an almost empty Chamber....