Chancellor cuts national insurance for self-employed people

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For the self-employed, the chancellor said he is making reforms to the way national insurance is paid to save around 2 million people an average of £350 per year.

He said he is abolishing Class 2 national insurance - which he says saves £192 a year - for the self-employed.

Meanwhile, Class 4 national insurance will be cut from 9% to 8% on earnings between £12,570 and £50,270.

Budget 2023 calculator: https://news.sky.com/story/budget-2023-calculator-see-if-you-are-better-or-worse-off-after-chancellor-jeremy-hunts-statement-12834667

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