Reeves under fire for national insurance plans
Everything to know about Rachel Reeves’s plans for employer National Insurance
It is increasingly likely that Chancellor Rachel Reeves will increase National Insurance contributions (NICs) for employers in this month’s Budget. Experts have warned the move – whether it be a straight rate rise or applied to pension contributions – is poised to come with “some nasty side effects” for workers.
Employers’ national insurance rise a risk for SMEs, tax experts warn
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Reeves signals hike in National Insurance for firms
The chancellor was speaking at the government's International Investment Summit, where deals worth £63bn were hailed.
Reeves insists National Insurance increase won’t break manifesto
The Chancellor has insisted that increasing employers’ National Insurance contributions in the Budget will not break Labour’s promise not to raise taxes on working people.
Fact check: Would raising employer national insurance be a ‘tax on working people’?
The tax expert adds that in the extreme case that an increase of one pence per pound in employer NICs was passed on to employees in the form of lower wages, the measure would only net £4.5 billion a year. He adds that the end figure would probably be a little higher than this, but much less than a previous HMRC estimate of £8.5 billion.
National Insurance fears spark business backlash
Business groups hit out after the chancellor signals she will raise the amount employers pay in National Insurance.
Budget 2024 – latest: Reeves under fire for national insurance plans as tax rises still to come
Rachel Reeves will announce Labour’s first Budget in 15 years later this month, leading one of the most highly-anticipated fiscal events in over a decade. As the chancellor looks to fill the £22bn “black hole” in public spending she announced in late July,
Reeves eyes up to £40bn in tax rises and spending cuts in Budget
The Chancellor told ministers on Monday that plans to fill a £22 billion black hole would be enough only to ‘keep public services standing still’.
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