Spring statement 2022: Rishi Sunak lifts national insurance threshold and lowers fuel duty
Guardian, 23 Mar 2022
Rishi Sunak has said 70% of workers will be getting an effective tax cut from £6bn plan to lift the national insurance threshold by £3,000 during his economic statement in parliament on Wednesday.
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That amounts to a tax cut of £330 a year for people and is the single biggest tax cut for a decade, according to Sunak.
According to the latest snapshot, soaring inflationary pressure was fuelled by rising costs for gas and electricity, as well as average petrol and diesel prices hitting record highs in a blow to motorists
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