Employees’ national insurance drops to 8%

Marginal tax rate, %

Income tax basic rate

Main rate of employers’ NICs

Main rate of employeess NICs

40%

Provisional

30

20

10

0

2020

2024

1980

1990

2000

2010

Income tax basic rate

Main rate of employers’ NICs

Main rate of employees’ NICs

40%

Provisional

30

20

10

0

2020

2024

1980

1990

2000

2010

Guardian graphic. Source: IFS. Note: Assumes contracted into Serps/S2P where relevant. 1985-89 a range of employee and employer national insurance contributions (NICs) applied.