The employer National Insurance (NI) contributions have been frozen for three years from 2028/29, which raises £8 billion, according to a prematurely published Office for Budget Responsibility (OBR) report.
This Budget has extended the allowances and threshold freezes in income tax and NI contributions to the end of the forecast period. This means the majority will have been frozen for most of the 2020s. Speaking in the House of Commons today (26 November), Reeves said: "We need a fair and sustainable tax system, one that supports investment to grow our economy. The previous conservative government froze personal tax thresholds and today I will increase the freeze for a further three years from 2028. "I'm not asking everyone to make a contribution, but I will ensure the wealthiest contri...
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