Member of Parliament for Harlow and the Villages has welcomed a tax cut for over 2 million people in the East of England, saving the average hard working Harlow person £450 a year. Having met their target to halve inflation, the Conservative Government are now able to cut taxes, meaning people across Harlow will keep more of the money they earn.
From this month, employee National Insurance contributions will be cut from twelve per cent to ten per cent, delivering a tax cut of £450 for the average worker earning £35,000.
The Conservative Government will also cut National Insurance for the Self Employed, delivering a total average saving of £340 a year which will come into force later this year.
This tax cut means a senior nurse with five years of experience will receive an annual gain of £600; a typical police officer will receive an annual gain of over £630; a typical junior doctor will receive an annual gain of over £750 and a hard-working family with two earners on the average income will be £900 better off a year.
This tax cut is only possible because of the long-term, difficult decisions the Conservative Government took to get inflation falling and strengthen the economy.
Welcoming the tax cut for hardworking Harlow people, Mr Halfon commented, “The Prime Minister made a promise to people across Harlow and the villages that taxes would be cut when inflation was falling and that is what this Conservative Government is delivering today.
“Since entering Parliament in 2010, I have campaigned tirelessly to cut the cost of living. This tax cut means people get to keep more of their hard-earned money. Over 2 million people across the East of England will have their taxes cut this month, thanks to the Conservative Government’s long-term decisions for a stronger economy.”
Commenting, Chancellor of the Exchequer Jeremy Hunt MP said, “With inflation halved, we’ve turned a corner and are cutting taxes – starting with today’s record cut to National Insurance worth nearly £1,000 for a household. From nurses and brickies, to cleaners and butchers, 27 million hard-working Brits will have a little more cash in their pockets.”