How Rachel Reeves’ national insurance tax hike impacts UK businesses

What does Rachel Reeves’ national insurance tax hike mean for UK businesses? A fresh row has erupted just weeks before Reeves‘ national insurance tax hike comes into effect after the Treasury’s headline figures were scrutinized. When announcing her 1.2 per cent hike to employers’ national insurance contributions (NIC) at the Autumn Budget, Reeves said it would raise “£25bn per year by the end of the forecast period.” The Office for Budget Responsibility (OBR) later interrogated these figures and calculated just £23.8bn would be raised in 2025, with £5.5bn in indirect costs. In 2026, costs are expected to jump to £9.1bn, dragging NIC revenue down to £14.6bn. Read more of the story here 👇 https://www.cityam.com/reeves-told-to-scrap-jobs-tax-after-headline-figures-questioned/ Get more of City AM 👇 🌐 http://www.cityam.com X(formerly Twitter): http://twitter.com/CityAM Facebook: http://www.facebook.com/cityam Instagram: http://www.instagram.com/city_am LinkedIn: www.linkedin.com/company/cityam