Aberavon & Neath Liberal Democrats
Friday, November 03, 2017
Delay to NICs 2 tax cut is "slap in the face for self-employed workers"
The government has quietly announced
it will be delaying a planned tax cut for self-employed workers by a year.
In a ministerial statement yesterday, it was announced that changes to National Insurance including the abolition of Class 2 NICs will be delayed until April 2019.
The planned tax cut would have led to savings for most self-employed workers of around £148 next year.
Liberal Democrat Leader Vince Cable commented:
"This is a slap in the face for self-employed workers.
"The Treasury is trying to bury bad news.
"Small business owners are already being hit with a double whammy of rising prices and higher borrowing costs.
"Now they’re being told that a planned tax cut will be delayed by another year.
"Once again the government is letting down the strivers who form the backbone of our economy."
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