Prime Minister Rishi Sunak has outlined government plans to abolish National Insurance, as he delivered a speech on apprenticeships for young people in Britain.
Speaking to crowds in Warwickshire, Sunak said: "We're cutting National Insurance because we want to end the unfairness that you pay tax twice on income from work, but income from other sources is only taxed once. That's why our long term ambition is to simplify the system and end the double tax on work by abolishing NI.
"Now, we've already made good progress for the self-employed. We've abolished class two NI and cut your main rate by a third, saving a typical self-employed person around £650 a year. And we've cut NI for 29 million workers by around £900. That's a £20 billion tax cut for the British people. But we're not done yet. We'll make more progress towards abolition in the next Parliament."
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