He said: “Taxing our way to prosperity has never worked. To raise living standards for all, we need to be unapologetic about growing our economy.
“Cutting tax is crucial to this. Whether businesses reinvest freed-up cash into new machinery, lower prices on shop floors or increased staff wages, the reversal of the levy will help them grow, whilst also allowing the British public to keep more of what they earn.”
Workers recently had a boost to their pay as the threshold at which workers pay NI was raised in July.
The threshold was increased from £9,880 to £12,750, to bring it in line with the income tax personal allowance.