Swap the rates of Class 1 National Insurance contributions — 23 signatures. Status: open.
Currently, Class 1 NI contributions are (annually): 0% for income between £12,570, 8% for income between £12,570-£50,270, and 2% for income above £50,270. I want the Government and the Treasury to commit to making the lower band pay 2%, and the higher one paying 8% instead
People with incomes up to £88,000 could see a reduction in their National Insurance bill under this proposal, which accounts for the vast majority of the formally employed workforce. I think this would be a good policy to help alleviate cost of living pressures for the most vulnerable and for the majority of working people, whilst ensuring that those on higher incomes contribute more to our welfare system and our NHS, both of which are under significant pressure at the moment.
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