Autumn statement: what national insurance cuts and other changes mean for young people

By Alexander Tziamalis, Senior Lecturer in Economics | Freelance Consultant and Tutor |, Sheffield Hallam University
Yuan Wang, Seinor Lecturer in Economics, Sheffield Hallam University

At first glance, Chancellor Jeremy Hunt’s autumn statement appears to reduce the tax burden, increase pay and make our lives a bit easier. But given the cost of living and other pressures, the big picture is not as pretty. If you’re a young professional, here’s what the changes could mean for you.

Let’s start with your salary. The national living wage will increase from £10.42 to £11.44 per hour from April 2024 and be extended to all workers aged…

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