Chancellor Philip Hammond’s plan to raise national insurance payments for self-employed that would have hit almost 100,000 construction workers has been scrapped.
The move, announced in the Budget, would have affected many construction workers and subcontractors with class 4 national insurance contributions rising from 9% to 10% in 2018 and 11% in 2019.
It was aimed at addressing the fact that employees were taxed more heavily than the self-employed.
However, yesterday in a U-turn, the chancellor said he had written to Tory MPs telling them there will be no increase in national insurance payments “in this parliament”.
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