WORKERS in Andover will save hundreds of pounds each year thanks to a new National Insurance cut, according to MP Kit Malthouse.

Some 27 million people across the UK will benefit from this week, as National Insurance has been cut by two percentage points to 10 per cent. 

An average salaried worker on £35,400 living in Andover, will save £450 a year, while a household with two average earners will save nearly £1,000. 

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This comes at the same time as mortgages, grocery and fuel costs are all coming down due to a sharp fall in inflation. 

Kit Malthouse, MP for North West Hampshire, said"I’m heartened to begin the new year with some positive news. Our NI cut kicks in this week, saving a worker earning the average salary in Andover hundreds of pounds a year. 

"We have been relentless in working to bring inflation down, and it has fallen by more than half of what it was at its peak. 

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“We are now seeing the pay-off as lenders begin to slash fixed-rate mortgage deals, and prices at our supermarkets and fuel pumps are falling. You can now fill up for 139.9p per litre at some pumps in and around Andover.

"It’s been a tough period globally with the Covid pandemic and Putin’s war in Ukraine.

"As we turn a corner with the economy, our focus now must be on getting inflation down to the 2 per cent target as soon as possible, and I will push the Chancellor for further sensible tax cuts to help working people and stimulate our economy."