Autumn Statement commentary on National Insurance changes from Clare Moffat

Clare Moffat, Pensions and Tax Expert, Royal London:

"Ultimately National Insurance is another tax to be paid, so any saving is a good one. While some will benefit from this reduction, we need to remember that leaving Personal Allowances and income tax thresholds frozen means some will end up paying tax when they weren’t before.

"While our research shows that the average household is paying nearly £500 a month more on household bills and food costs this year, a cut of 2% is a drop in the ocean. Any National Insurance reduction will only help those who are working and those under State Pension age."