Vale of Clwyd MP Dr James Davies has welcomed a tax cut for thousands of hard working people across the constituency, which will save workers an average of £450 a year.
Having met the target to halve inflation, the Conservative Government is now able to cut taxes.
From January 6th, employee National Insurance contributions were cut from 12 per cent to 10 per cent, delivering a tax cut of £450 for a worker on the national average wage of £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.
The tax cut, which came into force last week, 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.
Commenting, James said:
“The Prime Minister made a promise to people across North Wales that taxes would be cut when inflation was falling and that is what this Conservative Government is delivering today.“
“1,230,000 people across Wales will have their taxes cut from January 6th, thanks to the Conservative Government’s long-term decisions for a stronger economy.
“This means people get to keep more of their hard-earned money, ensuring work always pays under a Conservative Government.”
Chancellor of the Exchequer Jeremy Hunt MP said:
“With inflation halved, we’ve turned a corner and are cutting taxes – starting with this 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.”
