Mar 23, 2022
How Rishi Sunak's Spring Statement will affect you
For an employee earning £20,000 a year, it means an annual National Insurance cut of £180 in 2022-23, instead of an £89 rise expected before the announcement, according to accountancy firm Deloitte. For a £40,000 earner, it means a rise of £70, instead of a previously expected £339 rise. For a £60,000 earner, it means a £442 rise, instead of a previously expected £711 rise. The latest analysis from Cornwall Insight suggests there will be a further £541 a year rise in October, before falling back. The chancellor announced a 5p a litre reduction in fuel duty for the next year, which takes some of the sting out of rising prices,.
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