In the Conservative’s manifesto launch, Prime Minister Rishi Sunak has pledged to abolish National Insurance for the self-employed.
This would mean over four million workers would be exempted from the tax.
Responding to the pledge, Derek Cribb, CEO of IPSE, said, “The Prime Minister is right to reward the millions of risk-takers in our workforce by scrapping their national insurance.
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“By freeing them from the burden of calculating and paying a second tax on work, the Conservatives would be giving the self-employed sector a much needed shot in the arm and renew the nation’s desire to strike out on their own.
“But the Prime Minister would do well to remember that hundreds of thousands more self-employed company directors will not feel the benefits of this landmark tax pledge. If his aim is to back the self-employed, he should ensure that limited company freelancers are supported with equivalent pledges before polling day.”
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