LabourEconomy & Cost of Living2026-05-07

SMEBoost: Cash grant to reduce effective NI contribution rate for self-employed

PL proposes a scheme called SMEBoost under which self-employed individuals would continue paying a 15% NI contribution rate but receive a cash grant to bring their effective rate down to 10%, matching the rate paid by employed workers.

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Pulled verbatim from the party press release. Not edited.

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The Labour Party has announced a new proposal aimed at reducing the effective financial burden faced by self-employed workers through a scheme called SMEBoost. Under the proposal, self-employed individuals would continue paying a 15% contribution rate but receive a cash grant designed to reduce the effective rate to 10%, matching employed workers. PL said the … Continued • ]]>

Read the original release at lovinmalta.com/news/general-election-2026/self-employed-could-save-up-to-e7150-under-pl-plan/

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