Abolish National Insurance contributions & added-on taxes. Increase the number of tax bands, the first starting at 6.5% for incomes of £20000 & the top set at 49.5% for incomes over £2million. Increase the income tax personal allowance to consider the average rent, utilities and council tax.
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Top earners pay 2% on NI when the bottom earners pay 8%. We think this negates the higher income tax rate. We think a higher number of tax bands would ensure fairer tax burdens. Average monthly rent is £1271 whilst yearly average utilities is £1800, water bill £445 & council tax £1500 adding up to £18997. Making the personal allowance consider these costs may mean some people could meet their basic obligations. Taking home more means people could support local businesses supporting local town centres.