The Institute for Fiscal Studies (IFS) has produced data suggesting the full reversal of the rise in national insurance is likely to benefit most those who earn more than £100,000, and will barely help the poorest 3m households.
Those in households with the average UK household income of £31,400 will save about £20 a month, while households with an income of £55,000 will save about £58 a month, according to the IFS analysis.
Tom Waters, a senior research economist at the IFS, told the Times: “Reversing the recent NICs rise would tend to benefit richer households more than poorer ones, even as a share of their income; the richest 10th, for example, would gain about £1,800 per year, or 1.7% of their income, and the poorest tenth about £7 per year, less than 0.1% of their income.
Read more at The Guardian
