Spring Statement 2022
Rishi Sunak presented his Spring Statement on Wednesday 23 March 2022. So, what exactly did the Chancellor say and, more importantly, what did it actually mean?
Some of the highlights:
- Increase in the National Insurance threshold
- Temporary increase in National Insurance rates
- Income tax reduction to 19% from April 2024
- Increased Employment Allowance from £4,000 to £5,000 a year to reduce the employer’s National Insurance contributions
A summary of this year’s Spring Statement is now available with full details of the changes: Wettone Matthews Spring Statement 2022