Laying out his latest budget in the House of Commons, Jeremy Hunt announced a reduction of Employee National Insurance contributions by two percentage points from 12 per cent to 10 per cent for 27 million workers who meet the contribution threshold.
Hunt also revealed a National Living Wage increase for 18- to 25-year-olds – including an expansion of the highest rates to those aged 21.
The National Living Wage will increase from £10.42 to £11.44 in April next year with the age threshold being reduced to 21 for the first time.
Young people aged 18 to 21 will also see a boost with the National Living Wage increasing by £1.11 to £8.60 per hour.
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