There have been a lot of complaints recently about the proposed hike in National Insurance Contributions (NICs) and the Tories seem to have taken heed.
They have now stated that they are willing to cut the rise if they win the General Election.
According to George Osborne, the shadow chancellor, the Conservatives will raise the threshold for the planned hike by £24 a week; however the upper earnings limit will rise by £29 a week. The plan would be funded through public spending efficiencies.
Mr Osborne said this would make NI payers who earn between £7,100 and £45,400 up to £150 better off than they are now under Gordon Brown.
Although the plan was denounced by Labour, it was met with open arms by the business community who feel that the move would bring a welcome boost to the jobs market when it is most needed.
Recruitment agencies, umbrella companies and limited company contractors are all in line for a 1% increase in employer’s national insurance contributions, should the rise take affect.
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