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rdf:type	schema:ClaimReview
http://data.cimple...lizedReviewRating	not credible
schema:url	http://fullfact.org/economy/rishi-sunak-pmqs-900-cut-everyone/
schema:text	This week we're cutting taxes by £900 for everyone in work. At Prime Minister’s Questions (PMQs) on 1 May 2024, the Prime Minister Rishi Sunak claimed “this week we’re cutting taxes by £900 for everyone in work”. But this isn’t correct. Mr Sunak appeared to be referring to the impact of the most recent reduction in National Insurance contributions (NICs), from 10% to 8%, which was introduced on 6 April 2024. Some workers will have seen the impact of this in their April payslips. National Insurance rates had already been reduced in January 2024, from 12% to 10%. Each of these two percentage point reductions was worth savings of around £450 for a worker on the average salary (about £35,000). According to the Treasury, £900 is the combined impact of both these NIC reductions—but only for “the average employee on £35,400 in 2024-25”, not “everyone in work” as Mr Sunak said during PMQs. While a worker on the average salary will see their NIC payments reduced by £900 in 2024/25, Mr Sunak’s claim is missing further context, as it doesn’t take into account the impact of other tax changes, such as ongoing freezes to the thresholds at which NI and income tax are paid. The Institute for Fiscal Studies (IFS) says that once the impact of all tax changes are taken into account, the average worker will be about £340 better off in 2024/25, but those earning below £26,000 will be worse off. According to the IFS, any worker earning between £26,000 and £60,000 a year (around half of all employees) will be better off, but “any other employees earning enough to pay NICs or income tax will be worse off”. We’ve written about similar claims before. Ministers should correct false or misleading claims made in Parliament as soon as possible in keeping with the Ministerial Code, which states that they should correct “any inadvertent error at the earliest opportunity”. Image courtesy of Chris McAndrew.
schema:mentions	Taxation in the United Kingdom Ministerial Code Institute for Fiscal Studies This Week (American TV program) National Insurance Parliament of the United Kingdom Prime Minister of the United Kingdom Rishi Sunak dbpedia:Chris_McAndrew
schema:reviewRating	Incorrect. The combined impact of two reductions in National Insurance, introduced in January and April, mean that a worker on the average salary of £35,400 will save £900 a year. Those earning below £26,000 will be worse off once other tax changes are taken into account.
schema:author	full-fact
schema:datePublished	2024-05-01 (xsd:date)
schema:inLanguage	English
schema:itemReviewed	http://data.cimple.eu/claim/92a79010a2af20e0a0567747d98185b90a2db5a7016c140c23373e89

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