Government not ruling out National Insurance hike for employers

Prime Minister Kier Starmer has refused to rule out an increase in National Insurance for employers in the upcoming Budget.

The speculation that businesses may be hit by a National Insurance hike comes after the government’s International Investment Summit which was held in London yesterday. At the event chancellor Rachel Reeves suggested businesses could face an increase in National Insurance.

She reiterated her Budget on 30 October will be “tough” and said an increase in National Insurance for businesses would not break Labour’s election pledge to not increase National Insurance for “working people”.

Speaking to the BBC in an interview this morning outside Downing Street the PM said that the Labour manifesto was “very clear” and stated the government wouldn’t increase tax on working people only.