Autumn Budget 2024: Labour hikes employers' NI by 1.2 percentage points

Employers pay a 13.8% National Insurance contribution on employees' earnings above £175 a week. Under plans announced today, this will be increased to 15%. It is understood the measure will generate around £25bn, which is over half the £40bn of overall tax rises announced in the Budget.  "I know that this is a difficult choice. I do not take this decision lightly," Chancellor Rachel Reeves said. "We are asking businesses to contribute more, and I know that there will be impacts of this measure felt beyond businesses too, as the OBR has set out today." The threshold at which employe...